NNPCL Posts ₦1.054 Trillion Profit in May 2025, Up by Over 40%

The Nigerian National Petroleum Company Limited (NNPCL) has announced a post-tax profit of ₦1.054 trillion for May 2025 — a notable 40.37% rise from the ₦748 billion reported in April.

This was disclosed in the company’s latest Monthly Report Summary released on Tuesday. The report also showed that NNPCL generated ₦6.008 trillion in revenue for the month, and between January and May 2025, it remitted ₦5.583 trillion to the federal government.

The company clarified that these financial results are provisional and unaudited, and reflect only NNPCL’s direct operations. Data from independent oil and gas operators are compiled separately by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

In terms of production, the report indicated that crude oil and condensate output averaged 1.629 million barrels per day in May, while daily gas production stood at 7.35 million standard cubic feet.

On the operational front, NNPCL carried out turnaround maintenance (TAM) on critical infrastructure in May. These included the Trans Escravos Pipeline (TEP), the Opuama flow station within OML 40, and the Obigbo and Agbada flow stations within OML 17.

Refinery updates featured prominently, with ongoing assessments at the Port Harcourt, Warri, and Kaduna refineries. Technical interventions also progressed on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline, especially in resolving engineering issues at the River Niger crossing.

Further evaluations are being carried out on the OB3 River Niger segment to determine the best execution strategy.

The company emphasized that its focus remains on bolstering national energy infrastructure while sustaining profitability, despite shifting global and domestic energy dynamics.

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