NNPCL Records N6.008 Trillion Revenue in May, Profit Hits N1.054 Trillion

|By Adejumo Adekunle-

The Nigerian National Petroleum Company Limited (NNPCL) has announced a revenue of ₦6.008 trillion for May 2025, marking a slight increase from ₦5.972 trillion recorded in April, as crude oil and condensate production continued to rise.

According to its latest Monthly Financial and Operations Report released on Monday, the national oil company also declared a 14 percent jump in profit after tax, climbing from ₦926 billion in April to ₦1.054 trillion in May.

The report showed that crude oil and condensate production rose to 1.63 million barrels per day (mbpd) in May, compared to 1.61 mbpd in the previous month — continuing a steady upward trend. At peak, production hit 1.72 mbpd, highlighting operational resilience.

Further analysis revealed that crude oil production remained flat at 1.35 mbpd, while condensate output edged up to 0.28 mbpd in May from 0.26 mbpd in April.

In the gas segment, production slightly increased to 7.352 billion standard cubic feet per day (bscf/d) in May, up from 7.354 bscf/d. However, gas sales dipped marginally to 4.185 billion bscf/d, down from 4.240 billion in April.

On the commercial end, crude oil and condensate sales jumped significantly to 24.77 million barrels in May, up from 22.16 million barrels in April — the highest monthly sales volume since February 2025.

The recent performance highlights the national oil firm’s recovery trajectory under the leadership of Bayo Ojulari, who recently unveiled NNPCL’s first monthly performance summary for April.