NNPC Reports Financial Gains and Production Growth for May 2026

In May 2026, NNPC Ltd released a monthly report indicating significant financial and production gains. The report revealed total revenues of ₦4.335 billion and a profit after tax of ₦462 billion.

Statutory payments to the federal government from January to May amounted to ₦4.858 billion. On the production side, NNPC Ltd reported a crude oil and condensate output of 1.73 million barrels per day, alongside natural gas production of 7.774 million standard cubic feet per day.

The upstream pipeline availability stood at 98%, while petrol availability was at 57%. The report also highlighted NNPC's efforts to address performance issues, including declining reservoir pressure and maintenance-related shutdowns.

Two major gas infrastructure projects, the Ajaokuta-Kaduna-Kano (AKK) mainline pipeline and the OB3 River Niger Cross project, showed progress, with the AKK pipeline reaching 94% completion and the OB3 project at 97% completion, with full commissioning targeted for the end of the third quarter of the year.