NNPC Posts Record N535 Billion Profit in June

The Nigerian National Petroleum Company (NNPC) Limited has reported a significant increase in its profit after tax, reaching N535 billion in June 2026. This represents a 15.8% rise from the previous month's N462 billion.

The NNPC attributed the growth to sustained strong revenue performance despite a slight decline in crude oil production. The company generated total revenue of N4.389 trillion during the month, with cumulative statutory payments to the Federation Account between January and June 2026 amounting to N6.286 trillion.

However, average crude oil and condensate production dipped marginally to 1.72 million barrels per day in June from 1.73 million barrels per day recorded in May. NNPC attributed this decline to operational disruptions, facility integrity issues, and subsurface challenges affecting several production assets.