NNPC Posts Record-Half Year Profit Amid Oil Price Rally

The Nigerian National Petroleum Company Limited recorded a significant profit of N2.275tn after tax in the first six months of 2026, driven by higher international crude oil prices triggered by geopolitical tensions in the Middle East.

According to NNPC's monthly financial and operational reports, the company generated a cumulative profit after tax of N2.275tn between January and June 2026, with fluctuating profitability throughout the period.

The year began strongly with a profit after tax of N385bn in January, but earnings declined to N136bn in February, a drop of 64.7% from the previous month. However, the company rebounded in March with a profit rise to N276bn, an increase of 102.9% compared to February.

The recovery continued in April with a profit climb to N481bn, representing a month-on-month increase of 74.3%. Although momentum slowed in May with a decline of 3.9%, the company returned to growth in June, recording a profit after tax of N535bn, a 15.8% increase from May and the highest monthly profit since January.