May 2025: NNPC Declares N1.05trn Profit as Monthly Revenue Hits N6trn
The Nigerian National Petroleum Company Limited (NNPC) has reported a revenue of approximately N6 trillion and a Profit After Tax (PAT) of N1.054 trillion for the month of May 2025. The company, now under the leadership of Bayo Ojulari, also announced notable progress on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, which moved from 70 percent to 81 percent completion following the successful River Niger crossing.
This report marks the second monthly operational summary released since the new NNPC management was appointed by President Bola Tinubu on April 2, 2025. The regular disclosures are part of a broader effort to promote transparency and accountability within the national oil company.
In comparison, NNPC’s April operational data showed a total revenue of N5.89 trillion, PAT of N748 billion, and statutory payments to the federal government amounting to N4.225 trillion for the first quarter of the year. In May, these statutory payments rose to N5.58 trillion for the first four months of 2025.
The company also reported that petrol availability at its retail stations across the country improved from 54 percent in April to 62 percent in May. Upstream pipeline availability also increased slightly, from 97 percent to 98 percent. Hydrocarbon production figures for May showed that crude oil and condensate output stood at 1.62 million barrels per day, while natural gas production averaged 7,352 million standard cubic feet per day. Meanwhile, the OB3 pipeline is now 96 percent completed.
NNPC highlighted ongoing collaboration with its venture partners aimed at boosting sustainable production. The company is also progressing with technical interventions to address challenges associated with the River Niger crossing on the AKK project, and is conducting detailed evaluations on the OB3 crossing to determine the most effective way forward.
In terms of infrastructure, NNPC reported the completion of Turn Around Maintenance (TAM) activities in May at several key facilities, including the Trans Escravos Pipeline, the OML 40 Opuama flow station, and the OML 17 Obigbo and Agbada flow stations. However, uncertainty remains around the long-promised revamp of Nigeria’s major refineries in Port Harcourt, Warri, and Kaduna, which the company said are still under review.
Beyond its core operations, NNPC also highlighted several community-focused initiatives undertaken through its foundation. These include the handover of starter packs to 531 National Youth Service Corps (NYSC) members on May 22, the completion of 6,028 cataract surgeries across various regions, and plans to deliver MRI machines to the National Orthopedic Hospital in Dala-Kano and Nnamdi Azikiwe University Teaching Hospital in Awka. Additionally, 4,931 vulnerable farmers in the southern region were trained in modern agricultural techniques, climate change adaptation, and improved market access.
NNPC’s new commitment to publishing its monthly financial and operational reports is seen as a strategic move to build public trust and reduce the opacity that has long plagued Nigeria’s oil and gas sector.
