The Nigerian National Petroleum Company Limited (NNPCL) has announced a significant 40.4% increase in profit after tax, reaching ₦1.054 trillion for May 2025, up from ₦748 billion in April.
The company's revenue for the month stood at ₦6.008 trillion. NNPCL's revenue reached ₦6.008 trillion, with a profit after tax of ₦1.054 trillion. The figures were contained in the company’s latest Monthly Report Summary for May 2025, released on Tuesday.
According to the report, NNPCL also posted a revenue of ₦6.008 trillion for the month and disclosed that it has remitted a total of ₦5.583 trillion to the Federal government between January and May 2025.
Average daily crude oil and condensate production was 1.629 million barrels per day, while average daily gas production was 7.35 million standard cubic feet.
NNPCL carried out maintenance on critical assets, including the Trans Escravos Pipeline and flow stations in Oil Mining Lease (OML) 40 and OML 17. The company is reviewing the Port Harcourt, Warri, and Kaduna refineries and making progress on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline project.
The financial results are provisional and unaudited, covering only NNPCL's direct operations. The company remains committed to bolstering Nigeria's energy infrastructure despite global oil market dynamics and domestic economic pressures.
