NNPCL Declares ₦1.054 Trillion Profit For May 2025

The Nigerian National Petroleum Company Limited (NNPCL) has disclosed a profit after tax of ₦1.054 trillion for May 2025, marking a substantial 40.4 percent increase from the ₦748 billion recorded in April.

These figures were outlined in the company’s latest Monthly Report Summary for May 2025, published on Tuesday. The report indicated that NNPCL generated a revenue of ₦6.008 trillion for the month and revealed that it has remitted a total of ₦5.583 trillion to the federal government from January to May 2025.

NNPCL noted that the financial results are preliminary and unaudited, encompassing only the company’s direct operations. They exclude the activities of independent oil and gas operators, whose data are separately reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The report also highlighted key operational achievements. The average daily crude oil and condensate production for May reached 1.629 million barrels per day, while the average daily gas production stood at 7.35 million standard cubic feet.

In its infrastructure update, NNPCL stated that it conducted turnaround maintenance (TAM) on several vital assets in May. These included the Trans Escravos Pipeline (TEP), the Opuama flow station in Oil Mining Lease (OML) 40, and the Obigbo and Agbada flow stations in OML 17.

Regarding refining, the company reported ongoing technical and commercial assessments of the Port Harcourt, Warri, and Kaduna refineries. It also highlighted advancements in the Ajaokuta–Kaduna–Kano (AKK) gas pipeline project, particularly in addressing engineering challenges related to crossing the River Niger.

Likewise, detailed evaluations are being conducted on the OB3 River Niger crossing to determine the most effective execution strategy.

The company emphasized that these initiatives reflect its dedication to strengthening Nigeria’s energy infrastructure while achieving robust financial performance, despite fluctuating global oil market dynamics and domestic economic challenges.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli