The Nigerian National Petroleum Company Limited (NNPC) recorded a decline in revenue in May 2026 despite maintaining stable crude oil and natural gas production.
According to the company’s latest Monthly Report Summary, revenue fell by nearly 13 percent from N4.971 trillion in April to N4.335 trillion in May, while profit after tax also declined from N481 billion to N462 billion.
NNPC reported crude oil and condensate production of 1.73 million barrels per day and natural gas production of 7,774 million standard cubic feet per day. The company attributed the drop in earnings to operational challenges, including maintenance activities, production constraints and facility reliability issues.
Despite the decline, NNPC said significant progress had been made on key gas infrastructure projects, with the Ajaokuta-Kaduna-Kano Gas Pipeline reaching 94 percent completion and the OB3 River Niger Crossing project standing at 97 percent.
The company also highlighted its continued contributions to national development, including statutory payments to the Federation and the donation of an MRI facility to the Nnamdi Azikiwe University Teaching Hospital in Anambra State.
