The Nigerian National Petroleum Company Limited (NNPC) has announced a revenue of ₦6 trillion and a profit after tax of ₦1.054 trillion for the month of May 2025, marking a significant boost in performance under its new leadership.
This was revealed Monday night, June 30, in the company’s second Monthly Report Summary since Bayo Ojulari was appointed Group Chief Executive Officer by President Bola Tinubu on April 2.
The NNPC also disclosed progress on major infrastructure projects, including the critical Ajaokuta-Kaduna-Kano (AKK) gas pipeline, which moved from 70 to 81 percent completion after crossing the River Niger.
In its April summary, the company had earlier posted a revenue of ₦5.89 trillion and a profit after tax of ₦748 billion. It also remitted ₦4.225 trillion to the federal government for the first quarter of the year.
According to the May report, petrol supply to NNPC retail stations increased to 62 percent, up from 54 percent in April. Upstream pipeline availability also improved slightly from 97 to 98 percent.
The company’s statutory payments to the federal government between January and April 2025 have now reached ₦5.58 trillion.
In terms of oil production, Nigeria averaged 1.62 million barrels per day in May, while natural gas output stood at 7,352 million standard cubic feet per day. The OB3 gas pipeline is now 96 percent complete.
The company said it was working with partners to boost sustainable production and remained committed to the 2.06 million bpd oil production target in the 2025 national budget.
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On ongoing technical efforts, the NNPC said, “The company progressed technical interventions on the AKK to resolve challenges of River Niger crossing (RNC) and is conducting detailed evaluations on OB3 RNC to determine the best project execution path forward.”
It also confirmed that turnaround maintenance had been completed on the Trans Escravos Pipeline (TEP), OML 40 Opuama flow station, and OML 17 Obigbo and Agbada flow stations.
However, the NNPC noted that the much-anticipated revamp of Nigeria’s refineries remains under review. “Port Harcourt, Warri and Kaduna refineries are still under review,” the report stated.
In its May corporate social responsibility update, the NNPC Foundation listed several public-impact projects.
These included the handover of starter packs to 531 NYSC corps members on May 22, and the completion of 6,028 cataract surgeries across Nigeria’s north and south.
It also said plans are underway to provide MRI machines to the National Orthopedic Hospital, Dala-Kano, and the Nnamdi Azikiwe University Teaching Hospital, Awka.
Additionally, 4,931 vulnerable farmers in the south received training in modern agricultural techniques, climate adaptation strategies, and market access support.
The company reiterated that its monthly public disclosures are part of a deliberate shift towards transparency and accountability in Nigeria’s oil and gas sector.