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Article

NNPC reports a ₦535 billion profit for June 2026, driven by peak gas production despite a slight oil output decline.

Premium Times Jul 31, 2026
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TL;DR

NNPC Ltd recorded a profit after tax of ₦535 billion in June 2026, a 15.8% increase from the ₦462 billion posted in May.

Intelligence

Crude oil and condensate production dipped slightly to 1.72 million barrels per day in June from 1.73 million in May.

Natural gas production hit a 12-month high of 7.841 billion standard cubic feet per day in June.

Work is ongoing to achieve first gas on the Obiafu-Obrikom-Oben (OB3) pipeline by August 2026 and early gas delivery to Abuja via the AKK pipeline in 2026.

NNPC's strong profit growth and peak gas production signal improved operational efficiency, even as upstream pipeline disruptions continue to limit maximum crude output.

For industrial gas off-takers and power plants across Nigeria, the scheduled completion of the OB3 River Niger Crossing in August 2026 and the AKK pipeline later in 2026 will significantly improve domestic gas supply and grid reliability.

Energy-dependent enterprises in northern Nigeria and Abuja should prepare to leverage this upcoming infrastructure expansion to optimize their power costs.

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