The Nigerian National Petroleum Company Limited (NNPCL) has announced a profit after tax of N185 billion for the month of July 2025, reflecting a sustained rebound in its operations and contributions to the national economy.
In its monthly performance report released yesterday, the company disclosed that it remitted about N7.9 trillion to the Federation Account in the first half of the year, reinforcing its role as a key revenue driver for government spending at all levels.
According to the report, crude oil and condensate production averaged 1.70 million barrels per day (mbpd) in July, compared to 1.68mbpd in June, edging closer to the company’s peak output of 1.77mbpd earlier in the year. The breakdown showed condensate output at 0.29mbpd, while crude oil accounted for 1.40mbpd.
The report further indicated steady growth in natural gas production, which hit 7.72 billion standard cubic feet per day (bscfd) in July, up from 7.58bscfd in June. Gas sales also reached their highest level this year at 4.98bscfd, reflecting rising demand both domestically and internationally.
NNPCL also gave an update on key infrastructure projects, noting that work on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline has reached 83 per cent completion. Additional subcontractors have been mobilised to accelerate progress, with the project expected to significantly boost gas transportation across the country upon completion.
The company highlighted that upstream pipeline availability was maintained at 100 per cent in July, suggesting minimal operational disruptions despite challenges in the sector.
Industry analysts say the company’s positive performance reflects ongoing reforms in the oil and gas sector, improved security around critical infrastructure, and rising global demand for hydrocarbons. They note that consistent improvements in production and remittances could bolster Nigeria’s fiscal position, particularly at a time when the government is seeking to stabilise the economy and strengthen foreign exchange inflows.
The latest profit figure follows a series of positive earnings reports by NNPCL in recent months, a trend that industry observers say indicates improving efficiency and better cost management within the company.
With the AKK gas pipeline nearing completion and crude output stabilising, stakeholders say NNPCL is positioning itself to play a bigger role in driving Nigeria’s energy security, economic growth, and transition towards cleaner fuels.
