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NNPC Records 15.8% Increase in Profit After Tax Amid Decline in Crude Oil Production

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

The company's revenue also saw an increase to N4.389 trillion in June, while cumulative statutory payments to the Federation rose to N6.286 trillion between January and June 2026.

Despite a marginal decline in crude oil and condensate production, NNPC's sales surged to 28.23 million barrels in June from 18.95 million barrels in May, representing a 48.97% month-on-month increase.

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