NNPC reports N905bn profit in June, remits N6.96tn in five months.

 Torchlight news.


NNPC Reports N905bn Profit in June, Remits N6.96tn in Five Months



The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a Profit After Tax (PAT) of N905 billion for June 2025, a decline from the N1.054 trillion recorded in May. Despite the dip, the company said it remitted a total of N6.961 trillion to the Federation Account between January and May 2025, an increase from N5.583 trillion remitted as of April.

According to its June Monthly Report Summary, released on Monday, NNPC's revenue for the month stood at N4.571 trillion, down from N6.008 trillion in May. The drop reflects volatility in the global oil market.

Crude oil and condensate production saw a modest increase, rising from 1.629 million barrels per day (bpd) in May to 1.68 million bpd in June—marking the highest daily output since January. Natural gas production also grew to 7.581 billion standard cubic feet per day (scf/d) in June, compared to 7.352 billion scf/d the previous month, indicating a steady recovery in upstream activities.

Petrol availability at NNPC retail stations improved, reaching 71% in June from 62% in May.

Progress was also recorded in major gas infrastructure projects. The Ajaokuta–Kaduna–Kano (AKK) pipeline moved from 81% to 83% completion, while the OB3 pipeline remained at 96%. The AKK project crossed the River Niger segment, a key milestone that significantly reduces project risk. A technical review is underway to apply lessons from the AKK’s progress to the OB3 River Niger segment.

However, upstream pipeline availability dipped slightly, from 98% in May to 97% in June.

Refurbishment work on the Port Harcourt, Warri, and Kaduna refineries is still ongoing.

On the Corporate Social Responsibility front, NNPC conducted a Financial Literacy Programme in June, training over 67,000 NYSC members. This brings the total number of corps members trained under the programme to 870,383.

The company noted that all figures presented are provisional and will be reconciled with relevant stakeholders.

NNPC Ltd. emphasized that its performance underlines its critical role in supporting the federal government’s revenue base amid ongoing economic reforms and fiscal challenges.

Comments

Post a Comment

Popular posts from this blog

Labour Party Lawmakers as an Appendage to APC Majority Lawmakers: A Huge Question Mark on Peter Obi’s Leadership

Image
  The Labour Party (LP) made an unprecedented impact in the 2023 general elections, largely due to the influence of Mr Peter Obi and the Obidient movement. Before then, it was almost unthinkable for a third-force party to achieve significant electoral success in Nigeria. However, against all odds, the LP secured eight senatorial seats and 34 seats in the House of Representatives as of March 7, 2023. Among those elected were individuals from humble backgrounds, including a former commercial motorcyclist and a motor park loading agent, further reinforcing the movement’s appeal to ordinary Nigerians. Labour Party’s Crisis and the Loss of Legislative Influence To the disappointment of many supporters, the Labour Party is currently experiencing severe internal disarray. At least one senator and five members of the House of Representatives have defected to the ruling All Progressives Congress (APC). Even more concerning is that the remaining LP lawmakers in the National Assembly appear ...
Read more

Chief Priest holds his First-Ever Stage Performance at his birthday party in Owerri

Image
Chief Priest’s First-Ever Stage Performance: A Night of Emotions, Gratitude & Celebration in Owerri Owerri, the heart of Eastern Nigeria, witnessed a night of history, emotions, and gratitude as celebrity businessman and socialite, Cubana Chief Priest , took the stage for his first-ever live performance —and it happened on his own birthday. The event, which was packed with fans, celebrities, and well-wishers, was more than just a celebration of another year; it was a heartfelt tribute to his roots, his supporters, and a dear friend he lost. A Moment of Silence for Ifeanyi Ubah Before the music, before the cheers, before the energy hit the roof, Chief Priest paused the night with an emotional tribute. The entire venue fell silent as he led a minute of silence for his late friend, Ifeanyi Ubah . The bond they shared was well known, and this moment was a reflection of how much he still carried the weight of the loss. Owerri: The City of His Beginnings As the night moved forward,...
Read more

Forbidden Flames.... Torchlight for Twilight.

Image
By Ogbu A.M. The traffic buzzed outside their Lekki apartment as Emeka sat quietly in the living room, his eyes fixed on his phone, though his mind was miles away. Lagos had a way of wearing people out—but nothing had worn him down like what he’d just learned. His best friend, Charles, had dropped the bomb casually while they shared beers at a bar in Victoria Island. "Guy, I no dey try cause wahala, but I think say you suppose know wetin your wife dey do. Ngozi talk say Chioma dey knack her oga for office. That Ndubisi guy." It had hit Emeka like a slap. For days, he pretended he hadn’t heard it. But now, as he watched Chioma humming in the kitchen, moving gracefully like nothing was wrong, he knew Charles wasn’t lying. Her phone was always face-down. Late meetings. A new perfume. The soft smile she had when she texted someone she wouldn’t name. And then there was Ngozi—Chioma’s younger sister. She had moved in temporarily while job-hunting, according to Chioma. Young, v...
Read more