NNPC Reports ₦535bn Profit in June 2026 Amid Pipeline Progress

NNPC Limited recorded a profit after tax of ₦535 billion in June 2026, reflecting a 15.8% increase from the ₦462 billion reported in May. The company's revenue for June reached ₦4.389 trillion, while cumulative statutory remittances to the Federation Account from January to June 2026 totaled ₦6.286 trillion.

Crude oil and condensate production slightly decreased to 1.72 million barrels per day in June from 1.73 million barrels per day in May, attributed to operational disruptions and facility integrity challenges. Conversely, gas production rose to 7.841 million standard cubic feet per day from 7.774 million standard cubic feet per day in May, indicating NNPC's commitment to expanding domestic gas supply.

The Obiafu-Obrikom-Oben (OB3) Gas Pipeline is 98% complete, with gas delivery expected to commence in August 2026, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline is 94% complete, set to supply gas to Abuja later this year.