The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded ₦19.04 trillion in revenue and ₦2.28 trillion profit after tax in the first half of 2026, despite fluctuations in crude oil output.
Details from the company’s June 2026 monthly report show revenue rose steadily from ₦2.57 trillion in January to a peak of ₦4.97 trillion in April, before moderating to ₦4.34 trillion in May and ₦4.39 trillion in June, bringing total earnings for the six-month period to ₦19.04 trillion.
Profit followed a similar recovery trend, dropping sharply to ₦136 billion in February before rebounding to ₦535 billion in June, the highest monthly profit so far this year.
NNPC also remitted ₦6.29 trillion to the Federation between January and June.
Crude oil and condensate production dipped slightly to 1.72 million barrels per day in June, from 1.73 million bpd in May, with the company citing operational disruptions and infrastructure challenges.
In contrast, natural gas output rose marginally, reflecting ongoing efforts to boost domestic gas supply and support Nigeria’s energy transition.
The company said key gas projects are nearing completion, with the OB3 pipeline at 98% and the Ajaokuta-Kaduna-Kano (AKK) pipeline at 94%, positioning both for expected gas delivery later in 2026.
