The Nigerian National Petroleum Company Limited has announced that it remitted a total of N4.858 trillion to the Federation Account between January and May 2026, reflecting a 30.8 per cent increase from the N3.714 trillion recorded as of April.
According to the company’s May 2026 Monthly Report Summary, cumulative statutory remittances rose by N1.144 trillion within one month, even as its Profit After Tax (PAT) declined slightly from N481 billion in April to N462 billion in May.
The report showed that the national oil company generated N4.33 trillion in revenue during the month despite the marginal drop in profit.
NNPC said its operational performance improved across key areas, including crude oil and condensate production, natural gas output, pipeline availability and retail operations.
Average crude oil and condensate production increased to 1.73 million barrels per day (mbpd) in May, up from 1.68 million bpd recorded in April. The figure represents the company’s highest monthly production level in at least one year, following months of output fluctuating between 1.51 million and 1.68 million barrels per day.
A breakdown of the production figures showed that crude oil output rose from 1.43 million bpd in April to 1.47 million bpd in May, while condensate production remained steady at 250,000 barrels per day.
Natural gas production also recorded modest growth, increasing from 7,730 million standard cubic feet per day (mmscfd) in April to 7,774 mmscfd in May.
Despite the increase in production, gas sales declined slightly by about 2.4 per cent, falling from 5,044 mmscfd in April to 4,921 mmscfd in May.
Crude oil and condensate sales also dropped during the period. Total sales declined from 23.65 million barrels in April to 18.95 million barrels in May, comprising 17.99 million barrels of crude oil and 960,000 barrels of condensate.
The report further indicated significant improvements in infrastructure reliability, with upstream pipeline availability rising to 98 per cent in May from 79 per cent recorded in April.
On major gas infrastructure projects, NNPC said work on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project continued to progress, with construction, installation and pre-commissioning activities advancing towards the planned commencement of gas supply to Abuja in 2026.
The company also reported substantial progress on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, particularly on the River Niger crossing, where pullback pre-commissioning and tie-in works are underway ahead of the project’s expected completion by the end of the third quarter of 2026.
Retail operations also improved during the month, with the availability of NNPC retail stations increasing to 57 per cent, compared to 54 per cent in April.
The report noted that performance on the AKK pipeline remained steady at 94 per cent, while progress on the OB3 pipeline improved from 96 per cent to 97 per cent.
Beyond its commercial activities, NNPC highlighted interventions undertaken through the NNPC Foundation, including the commissioning of a 1.5 Tesla Magnetic Resonance Imaging (MRI) system at Nnamdi Azikiwe University Teaching Hospital on May 15.
The company said the project, delivered in partnership with GE Healthcare, also included specialised training for 40 radiologists and radiographers to improve access to advanced diagnostic services in Nigeria’s South-East.
NNPC attributed the improved production performance to ongoing efforts to address facility integrity challenges, minimise maintenance-related shutdowns and enhance the reliability of its upstream assets.
According to the company, the measures are expected to reduce production losses, improve operational efficiency and sustain higher oil output in the months ahead.
