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NNPC Limited recorded a profit after tax of ₦535 billion in June 2026, representing a 15.8 per cent increase from the ₦462 billion posted in May, according to the company's latest monthly financial and operations report.
The report released on Friday also showed that the national oil company 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 role in supporting government revenue.
Despite the improved financial performance, crude oil and condensate production declined marginally to 1.72 million barrels per day (mmbopd) in June from 1.73 million barrels per day recorded in May.
NNPC attributed the slight production drop to operational disruptions, facility integrity issues and subsurface challenges affecting several production assets.
In contrast, the company's natural gas production recorded steady growth, rising to 7.841 million standard cubic feet per day (mmscf/d) from 7.774 mmscf/d in May, representing a 0.86 per cent increase. The company said the improvement reinforces its commitment to expanding gas production in line with Nigeria's energy transition and domestic gas supply objectives.
On key infrastructure projects, NNPC disclosed that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline reached 98 per cent completion, with final tie-in activities underway ahead of the planned First Gas in August 2026.
Similarly, work on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline advanced to 94 per cent completion, bringing the strategic gas infrastructure project closer to its target of delivering gas to Abuja later in 2026.
The report highlights NNPC Limited's stronger financial performance, sustained revenue contributions to the Federation, and continued progress on critical gas infrastructure expected to boost domestic gas utilisation, industrial development and energy security.