NNPC Ltd rakes in N4.3trn revenue, posts N462bn profit in May 2026
Omeiza Bilal
The Nigerian National Petroleum Company (NNPC) Limited has recorded a robust financial performance for the month of May 2026, posting a revenue of N4,335 billion and a Profit After Tax (PAT) of N462 billion.
According to the company’s monthly Report Summary released on Wednesday, the state-owned oil firm also remitted a cumulative sum of N4,858 billion in statutory payments to the Federation Account between January and May 2026, solidifying its position as a major contributor to national revenue.
On the operational front, NNPC Ltd stated that its crude oil and condensate output averaged 1.73 million barrels per day (mbpd) during the month under review.
The report also showed that natural gas production stood at 7,774 million standard cubic feet per day (mmscfd).
While upstream pipeline availability maintained a high stability rate of 98 per cent, the availability of Premium Motor Spirit (PMS), popularly known as petrol, stood at 57 per cent for the month.
To sustain this growth trajectory, the management of NNPC Ltd stated that it has intensified strategic measures to tackle existing operational challenges.
“We are addressing performance issues, declining reservoir pressure, lifting constraints, maintenance-related shutdowns, and facility reliability challenges. These interventions are expected to drastically cut production deferments and boost both asset availability and overall output,” the company stated.
The report further highlighted significant strides in the country’s decade of gas initiative, with two major gas infrastructure projects nearing completion.
The Ajaokuta-Kaduna-Kano (AKK) mainline pipeline project, designed to transport gas to Abuja and other northern states later this year, has reached 94 per cent completion, with construction, installation, and pre-commissioning work advancing steadily.
Similarly, the Obiafu-Obrikom-Obeben (OB3) River Niger Crossing project has hit 97 per cent completion. Post-pullback pre-commissioning and tie-in works are currently ongoing, with full commissioning targeted for the end of the third quarter of 2026.
