In 5 Months, NNPCL Remits N6.96trn to Federation Account
The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it remitted a total of ₦6.96 trillion to the Federation Account between January and May 2025.
This was revealed in the company’s Monthly Financial and Operations Report for June 2025, released Monday night in Abuja. The report also showed that NNPCL posted a Profit After Tax (PAT) of ₦905 billion for the month of June—a decline from the ₦1.054 trillion recorded in May.
Despite the dip in monthly profits, NNPCL’s cumulative statutory remittance rose significantly from ₦5.58 trillion in April to ₦6.96 trillion in May, reinforcing its critical role in funding the government amid ongoing economic reforms.
In terms of operational performance, daily crude oil and condensate production increased from 1.629 million barrels per day (bpd) in May to 1.68 million bpd in June—the highest recorded since January. Natural gas production also witnessed an uptick, rising from 7.352 billion standard cubic feet per day (scf/d) in May to 7.581 billion scf/d in June.
NNPCL’s total revenue for June was ₦4.571 trillion, down from ₦6.008 trillion in May, reflecting the impact of global oil market fluctuations.
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Fuel supply across the country improved notably, with petrol availability at NNPC retail outlets increasing from 62 percent in May to 71 percent in June.
The report also detailed progress on critical infrastructure projects. The Ajaokuta–Kaduna–Kano (AKK) gas pipeline reached 83 percent completion, up from 81 percent, while the OB3 pipeline maintained its 96 percent completion status. Upstream pipeline availability slightly declined from 98 percent in May to 97 percent in June.
NNPCL noted key milestones in project execution, including the successful crossing of the River Niger segment of the AKK pipeline—an engineering feat that has significantly reduced the risks to the pipeline’s completion. A technical review has also commenced for the OB3 River Niger crossing to apply lessons learned from the AKK project.
Meanwhile, rehabilitation work on the Port Harcourt, Warri, and Kaduna refineries continues to undergo technical reviews.
As part of its Corporate Social Responsibility (CSR), NNPCL implemented a nationwide Financial Literacy Programme in June, training over 67,000 NYSC corps members. This brings the total number of beneficiaries of the initiative to 870,383.
The company’s performance underscores its continued strategic importance as a major revenue-generating entity for Nigeria, especially in light of fiscal pressures and the ongoing implementation of economic reforms.
By PRNigeria
