The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a total remittance of N6.96 trillion to the Federation Account between January and May 2025, underlining its critical role in national revenue generation.

The figures were contained in the company’s Monthly Report Summary for June, released on Monday.

According to the report, the cumulative remittance rose from N5.58 trillion recorded by the end of April, reflecting improved operational performance and revenue inflows.

NNPC also reported a Profit After Tax (PAT) of N905 billion for June, a drop from N1.054 trillion in May.

The decline in profit coincided with reduced revenue, which stood at N4.57 trillion in June, compared to N6.01 trillion the previous month—mirroring volatility in global oil markets.

Despite the revenue dip, upstream operations recorded notable improvements.

Daily crude oil and condensate production rose to 1.68 million barrels per day (bpd) in June, up from 1.629 million bpd in May, marking the highest level since January.

Natural gas production also increased to 7.58 billion standard cubic feet per day (scf/d), from 7.35 billion scf/d in May.

Petrol supply through NNPC retail outlets improved, rising to 71 percent in June from 62 percent the previous month, further easing concerns over fuel availability.

On gas infrastructure, the report highlighted major strides in key national projects. The Ajaokuta–Kaduna–Kano (AKK) pipeline is now 83 percent complete, while the OB3 pipeline remains at 96 percent.

A significant milestone was achieved with the successful River Niger crossing on the AKK line, which reduces completion risks.

Technical assessments are ongoing to replicate the achievement on the OB3 project.

Upstream pipeline availability experienced a marginal drop, from 98 percent in May to 97 percent in June.

Meanwhile, the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries remains under review.

In its social responsibility efforts, NNPC reported that over 67,000 members of the National Youth Service Corps (NYSC) were trained in financial literacy during June.

This brings the total number of beneficiaries under the programme to 870,383.

The company noted that all reported figures are provisional and subject to reconciliation with relevant stakeholders.

It reaffirmed its role as a strategic national asset and a major revenue contributor amid ongoing economic reforms and fiscal adjustments.