Commodities
NNPC Posts Record N535 Billion Profit Amid Crude Oil Production Decline
The Nigerian National Petroleum Company (NNPC) Limited has reported a significant profit of N535 billion in June 2026, representing a 15.8 per cent increase from May's profit.
This comes as the company sustained strong revenue performance despite a slight decline in crude oil production to 1.72 million barrels per day from 1.73 million barrels per day recorded in May due to operational disruptions and facility integrity issues.
The NNPC generated total revenue of N4.389 trillion during the month, while cumulative statutory payments to the Federation Account between January and June 2026 rose to N6.286 trillion.