By Stella Odueme
NNPC Limited recorded a profit after tax of ₦535 billion in June 2026, marking a 15.8 per cent increase from the ₦462 billion reported in May, according to its latest Monthly Financial and Operations Report.
The report showed that the company generated ₦4.389 trillion in revenue during the month, while cumulative statutory remittances to the Federation Account from January to June 2026 climbed to ₦6.286 trillion, underscoring its significant contribution to government finances.
Crude oil and condensate production, however, dipped slightly to 1.72 million barrels per day in June from 1.73 million barrels per day in May. NNPC attributed the marginal decline to operational disruptions, facility integrity challenges and subsurface issues affecting some production assets.
Gas production, on the other hand, continued its upward trajectory, increasing to 7.841 million standard cubic feet per day from 7.774 million standard cubic feet per day in May.
The company said the growth reflects its ongoing efforts to expand domestic gas supply and support Nigeria’s energy transition agenda.
On major infrastructure projects, NNPC reported that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline has reached 98 per cent completion, with final tie-in works in progress ahead of the scheduled commencement of gas delivery in August 2026.
The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline also advanced to 94 per cent completion, positioning the project to begin supplying gas to Abuja later this year.
The June report highlights NNPC Limited’s improved profitability, sustained revenue generation and continued progress on strategic gas infrastructure projects expected to enhance domestic gas utilisation, strengthen energy security and stimulate industrial growth across the country.
