The Nigerian National Petroleum Company Limited (NNPC) recorded an after-tax profit of ₦1.054 trillion in May 2025, representing a 14 percent increase compared to ₦926 billion posted in April.
The state oil firm’s revenue rose slightly to ₦6.008 trillion in May, up from ₦5.972 trillion a month earlier, driven by higher crude oil and condensate output during the period under review.
Official production data showed that Nigeria’s combined crude oil and condensate output climbed to an average of 1.63 million barrels per day (bpd) in May, an improvement from 1.61 million bpd recorded in April.
The country reached a peak of 1.72 million bpd at some point during the month.
Breaking down the figures, crude oil production held steady at 1.35 million bpd while condensate volumes recovered to 0.28 million bpd from 0.26 million bpd previously.
Associated gas production also improved slightly to 7.352 billion standard cubic feet per day, though gas sales volumes dipped marginally to 4.185 billion standard cubic feet per day.
Crude oil and condensate sales grew to 24.77 million barrels in May, up from 22.16 million barrels in April, marking the highest monthly sales volume since February.
Despite the gains in upstream operations, downstream activities faced operational headwinds. Fuel availability at NNPC Retail Limited stations fell to 62 percent in May compared to 70 percent in April, a decline attributed to logistical pressures and adjustments to subsidy-free pricing.
In its latest operational update, NNPC confirmed steady progress on major strategic projects. The OB3 pipeline project is now 96 percent complete, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project has reached 81 percent completion. Upstream pipeline availability stood at 98 percent during the period.
The company also carried out key maintenance works in May, including turnaround maintenance on the Trans Escravos Pipeline and flow stations in oil mining leases OML 40 and OML 17.
Under its corporate social responsibility programme, the NNPC Foundation reported the completion of 6,028 cataract surgeries nationwide and the distribution of starter packs to 531 National Youth Service Corps (NYSC) members.
The foundation also donated MRI equipment to healthcare facilities in Kano and Anambra states.
With the latest profit figures, NNPC continues to leverage improved production levels and infrastructure investments to strengthen its financial position amid ongoing reforms in Nigeria’s oil and gas sector.
