The Nigerian National Petroleum Company Limited (NNPC) has reported a profit after tax of N905 billion in June 2025, marking one of its strongest financial performances this year amid a steady rebound in crude oil and gas production.
According to the NNPC Monthly Financial and Operations Report for June, released in Abuja, the company generated N4.571 trillion in total revenue for the month, reinforcing its strategic role as Nigeria’s top revenue earner.
The report showed that Nigeria’s crude oil and condensate production averaged 1.68 million barrels per day (mbpd) in June, the highest since January. Of this volume, crude oil accounted for 1.42mbpd, while condensate contributed 0.26mbpd.
June’s production figures surpassed 1.63mbpd in May and 1.61mbpd in April, signaling improved upstream performance following months of disruptions caused by crude theft and pipeline vandalism.
However, crude oil and condensate sales declined slightly, falling to 21.68 million barrels in June, compared to 24.77 million barrels in May and 25.31 million barrels in February, which remains the highest monthly sales in 2025.
The gas sector also recorded steady growth, with natural gas production rising to 7.581 billion standard cubic feet per day (scf/d) in June, up from 7.352bn scf/d in May and 6.615bn scf/d in February. Daily gas sales also climbed to 4.742bn scf/d from 4.698bn scf/d in May, boosted by improved pipeline availability.
The report credited this performance to the increased reliability of critical gas infrastructure and progress on key projects, including:
The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project, which is now 83% complete after the successful River Niger crossing – previously considered the most challenging segment.
The OB3 Gas Pipeline Project, which is 96% complete and expected to significantly expand domestic gas supply upon completion.
NNPC noted that pipeline availability across its upstream network improved to 97%, a sign of reduced downtime caused by sabotage and theft.
Revenue to Federation and Refinery Updates
From January to May 2025, NNPC remitted N6.961 trillion to the Federation Account, reaffirming its role as Nigeria’s leading contributor to government revenue.
Work also continues at the country’s three major refineries:
Port Harcourt and Warri Refineries are undergoing equipment review and installation phases.
Kaduna Refinery is expected to resume partial operations once ongoing repair works are completed.
Petrol availability across NNPC Retail stations stood at 71%, with improved supply reported in the North Central, South-South, and North-West regions despite lingering distribution bottlenecks.
On the social investment front, the NNPC Foundation trained 67,544 National Youth Service Corps (NYSC) members in financial literacy in June, raising the total number of corps members trained to 870,383 nationwide.
Energy analysts have attributed NNPC’s impressive earnings to higher production efficiency, improved security of oil facilities, and better management of upstream operations. However, they caution that the volatility of global oil prices and the slow pace of refinery rehabilitation could affect future profits if not addressed promptly.
NNPC Group Chief Executive Officer, Bayo Ojulari, reiterated the company’s commitment to transparency, profitability, and expanding domestic refining capacity.
“We are on track with major infrastructure projects, and our focus remains on optimizing production, deepening gas commercialization, and supporting Nigeria’s energy transition agenda,” Ojulari said in a recent briefing.