NNPC Remits N6.96trn To Federation Account In 5 Months

The Nigerian National Petroleum Company Limited (NNPCL) said it remitted a total of N6.96 trillion to the Federation Account within the first five months of 2025.

Data from the NNPC Limited Monthly Report Summary for June released on Monday night in Abuja, showed that the company also posted a Profit After Tax (PAT) of N905 billion for June 2025, marking a decline from the N1.054 trillion reported in May.

Despite the drop in monthly profit, the company confirmed a total statutory remittance of N6.961 trillion to the federation account from January to May 2025, up from N5.583 trillion recorded between January and April of the same year.

The report indicated a steady rebound in upstream activities, with daily crude oil and condensate production rising to 1.68 million barrels per day, the highest since January.

NNPC’s revenue in June stood at N4.571 trillion, down from N6.008 trillion in May, reflecting fluctuations in the global oil market.

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Nonetheless, crude oil and condensate production increased slightly, rising from 1.629 million barrels per day (bpd) in May to 1.68 million bpd in June. Natural gas production also rose to 7.581 billion standard cubic feet per day (scf/d) in June, up from 7.352 billion scf/d in May, indicating a steady recovery in output.

Fuel availability improved as well, with petrol availability at NNPC retail stations increasing to 71 percent in June from 62 percent in May.

The completion of critical gas infrastructure projects showed progress as the Ajaokuta–Kaduna–Kano (AKK) pipeline moved to 83 percent completion from 81 percent, while the OB3 pipeline remained at 96 percent completion.

Upstream pipeline availability slightly dipped from 98 percent in May to 97 percent in June.

NNPC also reported ongoing strategic and technical efforts, including the successful crossing of the AKK River Niger segment, which has significantly de-risked pipeline completion.

A technical review of the OB3 River Niger crossing has begun to apply insights gained from AKK’s progress. Meanwhile, reviews of the Port Harcourt, Warri, and Kaduna refineries remain ongoing.

In its Corporate Social Responsibility activities, NNPC successfully conducted a Financial Literacy Programme in June for over 67,000 NYSC corps members across Nigeria, bringing the total trained under the programme to 870,383.

This performance highlights NNPC’s continued role as a crucial revenue contributor to the Nigerian government amid fiscal pressures and ongoing economic reforms.