The Nigerian National Petroleum Company (NNPC) Limited says it delivered stronger financial and operational performance in May, recording ₦4.335 trillion in revenue, a Profit After Tax of ₦462 billion, higher crude oil production, and significant progress on major gas infrastructure projects.
According to the company’s monthly performance summary, “NNPC Limited generated ₦4.335 trillion in revenue in May, while Profit After Tax stood at ₦462 billion.”
The national oil company also disclosed that “between January and May 2025, the company remitted ₦4.8 trillion to the Federation.”
On production, NNPC said “crude oil and condensate production averaged 1.73 million barrels per day during the month, while natural gas production reached 7,774 million standard cubic feet per day.”
The company attributed the performance to continued efforts to improve operational efficiency across its upstream and gas businesses.
Providing an update on critical gas infrastructure, NNPC said the “Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project has reached 94 per cent completion,” while “the OB3 River Niger Crossing project is now 97 per cent complete.”
Boluwatife Enome
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