The Nigerian National Petroleum Company Limited (NNPC) posted a 14% increase in profit for May 2025, with earnings after tax climbing to ₦1.054 trillion, up from ₦926 billion in April. The improvement came as Nigeria’s oil production continued to recover steadily.
Total revenue in May also edged up to ₦6.008 trillion from ₦5.972 trillion the previous month. This was supported by higher crude oil and condensate production, which reached 1.63 million barrels per day (bpd), a slight increase from April’s 1.61 million bpd. At its peak, output hit 1.72 million bpd during the month.
Crude oil production held steady at 1.35 million bpd, while condensate production rose from 0.26 to 0.28 million bpd. Gas production also improved to 7.352 billion standard cubic feet per day, although actual gas sales slipped slightly to 4.185 billion cubic feet per day.
NNPC’s crude and condensate sales reached 24.77 million barrels in May up from 22.16 million barrels in April marking the highest monthly sales volume since February.
However, the company’s downstream operations experienced a setback, with fuel availability at its retail stations falling to 62%, down from 70% the previous month. Analysts suggest this decline could be linked to supply chain disruptions and adjustments in the fuel pricing system.
In terms of infrastructure, NNPC reported progress on major gas pipeline projects. The OB3 pipeline is nearly finished at 96%, while the AKK pipeline project has reached 81% completion. Upstream pipeline uptime remained strong at 98%.
Maintenance works were carried out during the month on key assets, including the Trans Escravos Pipeline and several flow stations in oil blocks OML 40 and OML 17. The company is also addressing technical hurdles along the AKK pipeline’s River Niger crossing and reassessing execution strategies for the OB3 pipeline.
As part of its corporate social responsibility, the NNPC Foundation carried out over 6,000 cataract surgeries nationwide and supported more than 500 NYSC members with startup packages. Hospitals in Kano and Anambra also received MRI machines through the foundation.
Despite the strong financial and operational results, the Socio-Economic Rights and Accountability Project (SERAP) has urged Nigeria’s anti-corruption agencies to investigate the alleged disappearance of ₦500 billion from the company’s accounts.
