The Nigerian National Petroleum Company Limited (NNPCL) recorded a 15.8% surge in net profit to N535 billion for June 2026, marking its highest monthly earnings in 10 months.
According to the state oil firm’s June Monthly Financial and Operations Report, total revenue reached N4.39 trillion during the month as crude sales volumes rebounded sharply.
The earnings mark a strong recovery from a low of N136 billion in February 2026, propelled by crude oil sales rebounding to 27.23 million barrels.
The financial turnaround boosted cumulative statutory remittances to the Nigerian government to N6.29 trillion for the first half of 2026.
However, average daily crude and condensate output dropped slightly to 1.72 million barrels per day due to localized operational disruptions and field maintenance.
Meanwhile, natural gas production increased modestly to 7,841 million standard cubic feet per day as strategic gas pipeline infrastructure projects approached completion.
