The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has remitted N6.96 trillion to the Federation Account within the first five months of 2025. The NNPC Monthly Report Summary for June, released on Monday, revealed that it posted a Profit After Tax (PAT) of N905 billion for June 2025, marking a decline from the N1.054 trillion reported in May. In spite of the drop in monthly profit, it confirmed a total statutory remittance of N6.961 trillion to the federation account from January to May 2025, up from N5.583 trillion recorded between January and April of the same year. It indicated a steady rebound in upstream activities, with daily crude oil and condensate production rising to 1.68 million barrels per day (bpd), the highest since January. It showed that the NNPC’s revenue in June stood at N4.571 trillion, down from N6.008 trillion in May, reflecting fluctuations in the global oil market. “Crude oil and condensate production increased slightly, rising from 1.629 million bpd in May to 1.68 million bpd in June.

Sun