By Abiola Olawale
The Nigerian National Petroleum Company Limited (NNPCL) has announced what it called a significant financial remittance of N6.96 trillion to the Federation Account from January to June 2025, according to its latest monthly report.
The June 2025 Monthly Report Summary, released in Abuja, revealed that the national oil company recorded a Profit After Tax (PAT) of N905 billion for June, a slight dip from May’s N1.054 trillion.
Despite this decline, the company’s total statutory remittance for the first five months of 2025 rose from N5.583 trillion (January–April) to N6.961 trillion by May, showcasing consistent growth in contributions to the federal government.
Also, according to the report, NNPCL’s revenue for June stood at N4.571 trillion, down from N6.008 trillion in May.
However, the company reported a robust rebound in upstream activities, with daily crude oil and condensate production reaching 1.68 million barrels per day in June, the highest since January 2025.
Natural gas production also saw an uptick, climbing to 7.581 billion standard cubic feet per day (scf/d) from 7.352 billion scf/d in May.
The NNPCL report also revealed that significant progress was noted in critical infrastructure projects. The Ajaokuta–Kaduna–Kano (AKK) pipeline advanced to 83% completion, up from 81%, while the OB3 pipeline held steady at 96% completion.
Part of the report reads: “All production, sales, and financial figures are provisional and subject to reconciliation with relevant stakeholders
AKK: Successfully completed; the AKK River Niger Crossing, which significantly derisked the completion of the mainline. Additional intervention being put in place to ensure earliest completion,” the company said.
“Commenced technical review of OB3 River Niger crossing to replicate learnings from AKK River Niger crossing success.”
The NNPC said the review of the Port Harcourt, Kaduna, and Warri refineries is progressing.
