NNPC says it remitted N6.96trn to FG in six months

By Abubakar Yunusa

The Nigerian National Petroleum Company (NNPC) Limited says it made statutory payments of N6.96 trillion between January and June.

Statutory payments are made by organisations as required by law and typically remitted to government authorities as a source of revenue.

In its report, titled ‘NNPC Limited Monthly Report Summary — June 2025’, the oil firm also reported a profit after tax (PAT) of N905 billion for June.

The NNPC said the figure dropped by 13.81 percent from N1.05 trillion in May.

The company said it recorded a revenue of N4.57 trillion in the same period — down by 23.83 percent from N6 trillion in May.

According to the NNPC, crude oil and condensate production averaged 1.68 million barrels per day (bpd) in June, while natural gas production was 7.58 million standard cubic feet daily.

“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” the national oil company said.

The organisation also said petrol availability at NNPC Retail Limited stations was 71 percent during the month, adding that upstream pipeline reliability was 97 percent.

The NNPC said ongoing industry-wide collaborations are increasingly improving “synergies to achieve production improvement and cost optimisation”.

“AKK: Successfully completed the AKK River Niger Crossing which significantly derisked the completion of the mainline. Additional intervention being put in place to ensure earliest completion,” the company said.

“Commenced technical review of OB3 River Niger crossing to replicate learnings from AKK River Niger crossing success.”

The NNPC said the review of the Port Harcourt, Kaduna, and Warri refineries is progressing.

On July 11, Bayo Ojulari, the company’s group chief executive officer (GCEO), said it is becoming a “bit more complicated” to revamp the state-owned refineries.