NNPC posts June 2026 profit of N535 billion, up 15.8% from May
NNPC Limited recorded a profit after tax of N535 billion in June 2026, up 15.8% from N462 billion in May and marking its highest monthly profit since August 2025’s N539 billion. The company generated N4.39 trillion in revenue during the month, with crude oil and condensate output averaging 1.72 million barrels per day—slightly below May’s 1.73 million barrels—while natural gas production rose to 7.841 million standard cubic feet per day from 7.774 million, a 0.86% increase. Major gas infrastructure projects advanced: the Obiafu-Obrikom-Oben pipeline reached 98% completion, with first gas expected in August 2026, and the Ajaokuta-Kaduna-Kano pipeline is 94% complete, supporting planned gas deliveries to Abuja later this year. NNPC attributed the slight dip in oil output to operational disruptions, facility integrity issues and subsurface challenges across several fields. Cumulative statutory payments to the Federation for the first half of 2026 totaled N6.29 trillion, and the firm remitted N14.706 trillion to the government throughout 2025. The June result reflects a strong rebound from earlier lows in 2026, underscoring NNPC’s continued contribution to national revenue and the growing importance of its gas segment amid ongoing oil volatility.