NNPC Rides Oil Price Rally to Half-Year Profit of N2.275tn
The Nigerian National Petroleum Company Limited (NNPC) recorded a significant profit in the first half of 2026, thanks to higher international crude oil prices. According to NNPC's monthly financial reports, the company posted a cumulative N2.275tn profit after tax between January and June 2026.
Crude prices surged sharply during the first half of the year, particularly in June, following tensions in the Middle East that raised fears of supply disruptions. This led to stronger revenue inflows for NNPC, despite fluctuations in monthly profitability and production.
The company rebounded strongly from a decline recorded in May, posting a profit after tax of N535bn in June 2026, a 15.8% increase from the previous month's N462bn. This represented an additional N73bn in profit within one month.