NNPC Reports N1.05trn May Profit, Cites Improved Production, Project Interventions
The Nigerian National Petroleum Company (NNPC) Limited says its profit after tax rose by 29.03 per cent to N1.05 trillion in May 2025, up from N748 billion recorded in April.
The state oil firm disclosed this in its latest publication titled ‘NNPC Limited Monthly Report Summary — May 2025’, attributing the performance to increased revenue and sustained technical interventions across key projects.
According to the report, revenue grew by 1.87 per cent to N6 trillion from N5.89 trillion in April, while statutory payments made during the month stood at N5.58 trillion.
“All financial figures are provisional and unaudited,” the oil firm said, noting that the results are based solely on NNPC’s operations and exclude figures from independent operators as reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Crude oil and condensate production averaged 1.62 million barrels per day (bpd) in May, while natural gas output was 7.35 million standard cubic feet per day.
The report also highlighted progress on strategic infrastructure, including the Ajaokuta-Kaduna-Kano (AKK) gas pipeline. “Technical interventions progressed on the AKK gas pipeline project to resolve challenges of River Niger crossing.”
In addition, NNPC said, “Ongoing collaboration with venture partners to accelerate sustainable production enhancement” contributed to the improved outlook.
The company also completed a turnaround maintenance (TAM) for key assets, including the Trans Escravos Pipeline (TEP), OML 40’s Opuama flow station, and OML 17’s Obigbo and Agbada flow stations.
Meanwhile, “the Port Harcourt, Warri, and Kaduna refineries are under review in the month,” it added.
Petrol availability at NNPC Retail Limited stations stood at 62 percent, while upstream pipeline reliability was recorded at 98 percent, reflecting strengthened operational efficiency.
