NNPC Posts ₦4.3tn May Revenue as Crude Production Climbs to 1.73 Million Barrels Per Day

The Nigerian National Petroleum Company (NNPC) Limited has reported improved financial and operational performance for May 2026, recording ₦4.335 trillion in revenue, higher crude oil production, and significant progress on two major gas pipeline projects.

According to the company’s monthly performance summary, NNPC posted a Profit After Tax (PAT) of ₦462 billion for the month, while total remittances to the Federation between January and May stood at ₦4.8 trillion.

The report also showed that Nigeria’s crude oil and condensate production averaged 1.73 million barrels per day (mbpd) in May, reflecting sustained efforts to boost output, while natural gas production reached 7,774 million standard cubic feet per day (mmscfd).

On critical energy infrastructure, NNPC said construction of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project has reached 94 per cent completion, while the OB3 River Niger Crossing project is now 97 per cent complete, bringing both strategic gas projects closer to commissioning.

The company said the performance highlights continued progress in improving operational efficiency, expanding gas infrastructure and increasing contributions to government revenue as Nigeria seeks to strengthen energy security and drive economic growth.