Despite Lower Earnings, NNPC Remits ₦6.96trn Statutory Payments
The Nigerian National Petroleum Company (NNPC) Limited says it remitted ₦6.96 trillion as statutory payments to the federal government between January and June 2025.
Statutory payments, as required by law, are typically made by corporations to government authorities to serve as revenue for the state.
According to the company’s Monthly Report Summary — June 2025, NNPC posted a profit after tax (PAT) of ₦905 billion in June, representing a 13.81 per cent drop from the ₦1.05 trillion recorded in May. Similarly, revenue declined by 23.83 per cent, falling from ₦6 trillion in May to ₦4.57 trillion in June.
“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” the national oil company said.
The report also revealed that crude oil and condensate production averaged 1.68 million barrels per day in June, while daily natural gas output stood at 7.58 million standard cubic feet.
On infrastructure, NNPC said, “AKK: Successfully completed the AKK River Niger Crossing which significantly derisked the completion of the mainline. Additional intervention being put in place to ensure earliest completion.”
It added, “Commenced technical review of OB3 River Niger crossing to replicate learnings from AKK River Niger crossing success.”
Petrol availability at NNPC Retail Limited stations was pegged at 71 percent, while upstream pipeline reliability stood at 97 percent.
The company also noted that the “review of the Port Harcourt, Kaduna, and Warri refineries is progressing,” though the revamp process is facing complications.
