By MBAFAN ADE, Abuja-
Nigerian National Petroleum Company Limited (NNPC Ltd.) has bolstered the nation’s finances, remitting N6.96 trillion to the Federation Account from January to May 2025, according to its June Monthly Report Summary released on Monday.
The state-owned oil giant also reported a Profit After Tax (PAT) of N905 billion for June, despite a dip from May’s N1.054 trillion.
The report highlighted a robust increase in remittances, up from N5.583 trillion recorded between January and April, signaling NNPC’s pivotal role In Nigeria’s economic framework. However, June revenue fell to N4.571 trillion from N5.008 trillion in May, reflecting volatility in global oil prices.
Upstream operations showed resilience, with crude oil and condensate production rising to 1.68 million barrels per day (bpd) in June, the highest since January, up from 1.629 million bpd in May. Natural gas output also climbed, reaching孝 from 7.352 billion standard cubic feet per day (scfd) in May to 7.581 billion scf/d in June, indicating a steady recovery.
Fuel availability improved significantly, with petrol availability at NNPC retail stations rising to 71% in June from 62% in May. On the infrastructure front, the Ajaokuta-Kaduna-Kano (AKK) pipeline project advanced to 83% completion, up from 81%, while the OB3 pipeline held steady at 96%.
The successful crossing of the AKK River Niger segment marked a major milestone, reducing risks for the project’s completion.
A technical review of the OB3 River Niger crossing is underway, drawing on lessons from the AKK progress. Meanwhile, ongoing reviews of the Port Harcourt, Warri, and Kaduna refineries continue to move forward.
Beyond its core operations, NNPC Ltd. extended its Corporate Social Responsibility efforts, conducting a Financial Literacy Programme in June for over 67,000 NYSC members, bringing the total trained to 870,383.
The company noted that all production, sales, and financial figures are provisional, pending reconciliation with stakeholders.
