BY NKECHI NAECHE-ESZOBOR—NNPC Limited recorded a ₦535 billion profit after tax for June 2026—a 15.8% increase from the ₦462 billion reported in May—driven by total monthly revenues reaching ₦4,389 billion.
According to its latest monthly financial and operations report, cumulative statutory payments to the Federation for the first half of the year have now climbed to ₦6,286 billion, highlighting NNPC Limited’s continued role in driving national revenue.
Average crude oil and condensate production witnessed a slight dip standing at 1.72 million barrels per day (mmbopd), compared to 1.73 million barrels per day in May. The production dip is attributed to operational disruptions, facility integrity issues, and subsurface challenges across several assets.
Natural gas production rose to 7.841 million standard cubic feet per day (mmscf/d) from 7.774 mmscf/d in May, representing a modest 0.86% increase, continuing the company’s upward trajectory in gas production.
The Obiafu-Obrikom-Oben (OB3) Gas Pipeline progressed to 98% completion, with final tie-in works ongoing towards achieving First Gas in August 2026.
Construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94% completion, supporting the target of early gas delivery to Abuja in 2026.
