The Nigerian National Petroleum Company Limited has announced a profit after tax of ₦535 billion for June 2026, representing a 15.8 per cent increase from the ₦462 billion recorded in May.
The state-owned oil company disclosed this in its June 2026 Monthly Financial and Operations Report, which was published on its official social media platforms on Friday.
According to the report, NNPCL generated ₦4.389 trillion in revenue during the month, while its cumulative statutory remittances to the Federation Account between January and June 2026 rose to ₦6.286 trillion, reflecting its continued contribution to government revenue.
The report, however, showed a slight decline in crude oil and condensate production. Average daily output dropped from 1.73 million barrels per day in May to 1.72 million barrels per day in June.
NNPCL attributed the decline to operational disruptions, facility integrity challenges and subsurface issues affecting some of its producing assets.
In contrast, natural gas production recorded modest growth during the period. Average daily gas output increased from 7.774 million standard cubic feet per day in May to 7.841 million standard cubic feet per day in June, representing a 0.86 per cent increase.
The company also provided updates on two of its major gas infrastructure projects, saying construction work continued to make significant progress.
According to the report, the Obiafu-Obrikom-Oben (OB3) Gas Pipeline has reached 98 per cent completion, with final tie-in works ongoing ahead of the planned commencement of gas supply in August 2026.
NNPCL added that work on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline had progressed to 94 per cent completion, expressing optimism that the project remains on track to achieve early gas delivery to Abuja before the end of 2026.
The company said the progress on both pipeline projects forms part of its broader efforts to strengthen domestic gas infrastructure, improve energy supply and support Nigeria’s industrialisation agenda.
