BREAKING: NNPC posts ₦4.34 trillion revenue, ₦462 billion profit in May

Business, Corporate Affairs

ABUJA, Nigeria (NPA) — Nigerian National Petroleum Company (NNPC) Limited generated ₦4.335 trillion in revenue and recorded a profit after tax of ₦462 billion in May 2026, underscoring strong operational performance across its upstream and midstream businesses.

The figures were contained in the company’s Monthly Report Summary for May 2026, released on Wednesday.

According to the report, NNPC also made cumulative statutory payments of ₦4.858 trillion between January and May 2026, reflecting its continued contribution to government revenue.

The company reported an average crude oil and condensate production of 1.73 million barrels per day (mmbopd) during the month, while natural gas production stood at 7,774 million standard cubic feet per day (mmscfd).

NNPC said upstream pipeline availability remained high at 98 per cent, highlighting improved operational efficiency and reliability across its production network.

The report also showed significant progress on two of Nigeria’s major gas infrastructure projects.

According to the company, the Obiafu-Obrikom-Oben (OB3) Gas Pipeline Project has reached 97 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project stands at 94 per cent completion.

The projects are expected to strengthen domestic gas transportation, improve energy security and support industrial development upon completion.

The report further indicated that Premium Motor Spirit (PMS) availability across NNPC Retail Limited stations stood at 57 per cent during the reporting period.

Beyond its commercial operations, NNPC highlighted ongoing investments in healthcare through its corporate social responsibility initiatives.

The company disclosed that on May 15, 2026, the NNPC Foundation commissioned and handed over a state-of-the-art 1.5 Tesla Magnetic Resonance Imaging (MRI) system to the Nnamdi Azikiwe University Teaching Hospital (NAUTH) in Nnewi, Anambra State.

The facility includes chillers, an uninterrupted power supply (UPS) system, battery racks and a dedicated backup power system designed to improve diagnostic services at the tertiary health institution.

NNPC said the May performance reflects its continued focus on operational excellence, infrastructure development, energy security and sustainable value creation across Nigeria’s oil and gas value chain.

The company noted that its operational achievements, financial performance and strategic investments remain aligned with its objective of driving national economic growth while delivering value to stakeholders and host communities.