The Nigerian National Petroleum Company Limited, NNPCL has reported a profit after tax of ₦1.054 trillion for the month of May 2025, marking a significant 40.37 percent increase from the ₦748 billion posted in April.
According to its latest Monthly Report Summary for May 2025, released on Tuesday, the national oil company also recorded 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.
NNPCL noted that the financial figures provided are provisional and unaudited, and solely reflect the company’s operations. They do not include data from independent oil and gas operators, which are reported separately by the Nigerian Upstream Petroleum Regulatory Commission.
The report also showed that average crude oil and condensate production for May stood at 1.629 million barrels per day, while average daily gas production was 7.35 million standard cubic feet.
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In terms of infrastructure and operations, the company disclosed that it conducted turnaround maintenance in May for several key assets including the Trans Escravos Pipeline, Oil Mining Lease 40 — Opuama flow station, and OML 17 — Obigbo and Agbada flow stations.
On refinery operations, the NNPCL reported ongoing reviews of the Port Harcourt, Warri, and Kaduna refineries. It also stated that technical interventions on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline project were progressing, particularly efforts to resolve engineering challenges related to the River Niger crossing.
Additionally, detailed evaluations are underway on the OB3 River Niger crossing to determine the most efficient project execution strategy.
The report underscores the company’s ongoing efforts to strengthen domestic energy infrastructure while maintaining profitability amid evolving global and local market conditions.
The Conclave
