Commodities
NNPC Posts Record Half-Year Profit Amid Crude Oil Price Rally
The Nigerian National Petroleum Company Limited (NNPC) reported a significant profit after tax of N2.275 trillion for the first six months of 2026.
This is largely due to higher international crude oil prices, triggered by geopolitical tensions in the Middle East.
The company's earnings were bolstered by increased revenue inflows from crude oil exports, despite fluctuations in monthly profitability and production.
In June, NNPC posted a profit after tax of N535 billion, representing a 15.8% increase from May's N462 billion, and the highest monthly profit since January 2026.