NNPC Posts Record N535bn Profit in June Amid Rising Gas Output
Nigeria's NNPC reported its strongest monthly earnings in 10 months, with a profit after tax (PAT) of N535 billion in June 2026. This represents a 15.8% increase from May's N462 billion and is the highest monthly profit since August 2025.
The company's revenue reached N4.39 trillion in June, driven by relatively firm global oil prices due to geopolitical tensions in the Middle East. NNPC generated significant statutory payments to the Federation, reaching N6.29 trillion in the first six months of 2026.
Despite the strong financial performance, crude oil production remained broadly unchanged at 1.72 million barrels per day (mbpd) in June, marginally lower than May's 1.73 mbpd. However, natural gas output increased by 0.86% to 7.841 million standard cubic feet per day (mmscf/d).
The company continues to face challenges in raising crude production to maximize export earnings and meet budget assumptions. Sustained improvements in production remain critical for increasing foreign exchange inflows and supporting government revenues.