By Suleiman Aremu | Solaremnews
The Nigerian National Petroleum Company (NNPC) Limited recorded a profit after tax of ₦535 billion in June 2026, representing a 15.8 per cent increase over the ₦462 billion posted in May, despite a slight decline in crude oil and condensate production.
The figures are contained in the company’s June 2026 Monthly Financial and Operations Report, which highlighted improved financial performance, increased gas production and significant progress on key national gas infrastructure projects.
According to the report, total revenue for the month stood at ₦4.389 trillion, while cumulative statutory payments to the Federation between January and June 2026 rose to ₦6.286 trillion, underscoring NNPC Limited’s continued contribution to national revenue generation.
The report showed that average crude oil and condensate production declined marginally to 1.72 million barrels per day (mmbopd) in June from 1.73 million barrels per day recorded in May. NNPC attributed the slight drop to operational disruptions, facility integrity issues and subsurface challenges across several producing assets.
In contrast, the company’s natural gas production increased from 7.774 million standard cubic feet per day (mmscf/d) in May to 7.841 million standard cubic feet per day in June, representing a 0.86 per cent increase, reflecting sustained growth in the country’s gas sector.
On strategic gas infrastructure, NNPC disclosed that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline has reached 98 per cent completion, with final tie-in works currently underway ahead of the planned First Gas delivery in August 2026.
Similarly, construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94 per cent completion, keeping the project on course for the commencement of gas delivery to Abuja later this year.
The report reaffirmed NNPC Limited’s commitment to improving operational efficiency, boosting gas development and delivering critical infrastructure projects aimed at enhancing energy security, supporting industrialisation and driving sustainable economic growth.
Readers seeking the detailed financial tables, operational statistics, charts and other performance indicators contained in the June 2026 Monthly Financial and Operations Report can access the full report on NNPC Limited’s official website at https://www.nnpcgroup.com, or directly through the June 2026 Monthly Report Summary page at https://nnpcgroup.com/insights/nnpc-limited-monthly-report-summary-june-2026.
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