The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax of ₦1.054 trillion for May 2025, marking a substantial 40.4% increase from the ₦748 billion recorded in April.
This information is detailed in the company’s latest Monthly Report Summary for May 2025, published on Tuesday. The report also revealed that NNPCL generated revenue of ₦6.008 trillion for the month and remitted ₦5.583 trillion to the federal government from January through May 2025.
NNPCL emphasized that these financial results are provisional and unaudited, reflecting only its direct operations. The figures do not account for the activities of independent oil and gas operators, which are reported separately by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Operational highlights include an average daily crude oil and condensate production of 1.629 million barrels per day in May, alongside average daily gas production of 7.35 million standard cubic feet.
In infrastructure developments, NNPCL completed turnaround maintenance (TAM) on key assets during May, such as the Trans Escravos Pipeline (TEP), the Opuama flow station in Oil Mining Lease (OML) 40, and the Obigbo and Agbada flow stations in OML 17.
Regarding refining activities, the company is conducting ongoing technical and commercial reviews of the Port Harcourt, Warri, and Kaduna refineries. It also reported progress on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline project, particularly addressing engineering challenges related to crossing the River Niger.
In addition, detailed assessments are underway on the OB3 River Niger crossing to determine the most efficient strategy for execution.
NNPCL stated that these initiatives demonstrate its dedication to strengthening Nigeria’s energy infrastructure while maintaining robust financial performance, despite fluctuating global oil markets and domestic economic challenges.
