The Nigerian National Petroleum Company Limited (NNPC) reported a strong financial performance in June 2026, posting a profit after tax of ₦535 billion, despite a slight decline in crude oil and condensate production during the month.
According to the company’s latest Monthly Financial and Operations Report, the June profit represents a 15.8 percent increase compared to the ₦462 billion recorded in May. Revenue also grew significantly, reaching ₦4.389 trillion for the month.
The report further revealed that between January and June 2026, NNPC paid a total of ₦6.286 trillion in statutory contributions to the Federation, highlighting its important role in supporting government revenue and the Nigerian economy.
Although the company delivered stronger financial results, oil production experienced a small decline. Average crude oil and condensate production dropped from 1.73 million barrels per day in May to 1.72 million barrels per day in June. This represents a decrease of about 0.58 percent. However, production remained slightly higher than the 1.70 million barrels per day recorded in June 2025.
NNPC explained that production was affected by operational disruptions, maintenance issues, and technical challenges at several oil assets. The company noted that some of these setbacks were reduced by increased output following the completion of major maintenance work on the Assa-Rumuekpe project and the 28-inch Trans Niger Pipeline.
Despite producing slightly less crude, the company achieved a major increase in oil sales. Crude oil and condensate sales rose sharply to 28.23 million barrels in June, compared to 18.95 million barrels sold in May. This represents an increase of nearly 49 percent within one month and is also higher than the 26.44 million barrels sold during the same period in 2025.
NNPC also reported improved performance in its gas business. Gas production increased from 7,774 million standard cubic feet per day in May to 7,841 million standard cubic feet per day in June. Gas sales also improved, rising from 4,921 million standard cubic feet per day to 4,970 million standard cubic feet per day.
The company said work is progressing well on two of Nigeria’s major gas infrastructure projects. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline has reached 98 percent completion, with final connection work currently underway. NNPC expects the pipeline to begin delivering its first gas in August 2026.
Construction of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline has also advanced to 94 percent completion. The project is expected to support early gas delivery to Abuja later this year and improve gas supply for industries and power generation.
Looking ahead, NNPC said it remains focused on increasing oil production by improving the reliability of production facilities, reducing unplanned shutdowns, strengthening export operations, and accelerating new production opportunities across its assets.
The report also showed that upstream pipeline availability remained at 100 percent throughout June, while petrol availability across NNPC Retail stations stood at 53 percent.
NNPC added that all production, sales, and financial figures contained in the report remain provisional and may be updated after reconciliation with relevant stakeholders. Even with operational challenges, the June report reflects the company’s continued efforts to strengthen profitability, expand gas infrastructure, and contribute significantly to Nigeria’s economic growth.
