Nigeria’s state-owned oil firm, NNPCL, recorded a post-tax profit of ₦905 billion in June 2025, driven by rising oil and gas production, according to its newly released monthly performance report.
The report showed a continued turnaround in the company’s upstream activities, with crude oil and condensate production averaging 1.68 million barrels per day the highest output since January. This marks a steady rise from 1.63mbpd in May and 1.61mbpd in April, showing a positive momentum in exploration and drilling.
On the gas side, the sector remained robust, with natural gas output hitting 7.58 billion standard cubic feet per day (scf/d) in June. This is a further improvement from 7.35bn scf/d in May, reinforcing Nigeria’s slow but steady recovery in gas infrastructure and production.
Federation Earnings and Profit Surge
NNPCL’s financial report shows a total revenue of ₦4.57 trillion for June, as the company plays an increasingly important role in funding the national purse. Between January and May, statutory payments to the Federation reached N6.96 trillion, underlining its role as a key revenue lifeline amid mounting fiscal pressures.
While June posted the strongest upstream output in five months, crude and condensate sales dropped slightly to 21.68 million barrels, down from 24.77 million barrels in May. February still holds the record for the year with 25.31 million barrels sold.
Gas Projects, Pipelines Drive Growth
The national oil company credited the performance to improved infrastructure and milestone achievements on key gas projects. For instance, work on the Ajaokuta-Kaduna-Kano (AKK) pipeline reached 83% completion, including the challenging River Niger crossing.
“This development has de-risked the remaining construction phases,” NNPCL stated.
Similarly, pipeline uptime stood at 97%, helped by reduced cases of vandalism and pipeline sabotage a recurring challenge in Nigeria’s oil-rich zones.
Daily gas sales also rose to 4.74bn scf/d in June, signalling growing domestic and export demand.
Petrol Supply Still Faces Hiccups
Despite the gains in upstream performance, fuel distribution remains patchy, with petrol availability at NNPCL retail stations recorded at 71% in June. While the North Central, South-South, and North West zones showed improvement, supply gaps persist in other regions.
Kaduna Refinery Now 81% Completed, Refinery rehabilitation is still ongoing, with the OB3 pipeline 96% complete, while turnaround maintenance continues at Port Harcourt, Warri, and Kaduna refineries.
Youth Empowerment Through Financial Literacy
Beyond profit, NNPCL said it is investing in social impact. Its foundation trained over 67,000 NYSC corps members in June alone, bringing total beneficiaries of its Financial Literacy Programme to 870,383 nationwide.
NNPCL’s June results confirm the company’s gradual recovery, bolstered by stronger output and pipeline stability. However, retail fuel supply remains uneven, and refineries are still a work in progress.