NNPC Revenue Falls to N4.34 Trillion in May 2026

The Nigerian National Petroleum Corporation (NNPC) reported a revenue decline of N636 billion, bringing its total revenue to N4.34 trillion in May 2026, a decrease of nearly 13% from April's N4.971 trillion. The report, released on a Wednesday, indicated that despite maintaining stable crude oil production levels, operational challenges affected the company's earnings.

NNPC produced 1.73 million barrels of crude oil per day in May, with natural gas production at 7.774 million standard cubic feet per day. The company faced high pipeline availability at 98% and a 57% availability rate for premium motor spirit at retail stations.

NNPC made statutory payments of N4.858 trillion to the federal government from January to May 2026, solidifying its position as the country's largest revenue contributor. Additionally, NNPC is making significant progress on two critical gas infrastructure projects, with the Ajaokuta-Kaduna-Kano gas pipeline at 94% completion and the OB3 River Niger Cross project at 97% completion.