•Profit declines from N905bn to N185bn in one month
CHIGOZIE AMADI
The Nigerian National Petroleum Company Limited (NNPC) yesterday released its Monthly Report Summary for July 2025, disclosing that statutory remittances to the Federation Account from January to June reached N7.965 trillion.
Although the NNPC did not specifically state how much it remitted to the federation account in July, it pointed out that its revenue for last month was N4.4 trillion, while Profit After Tax (PAT) stood at N185 billion.
In contrast, a profit after tax of N905 billion was recorded for its June operations, which was at the time, a drop from the N1.054 trillion recorded in the previous month of May. It’s unclear what was responsible for this sharp drop.
The NNPC total revenue of N4.4 trillion for July released last night was also a fall from the revenue of N4.571 trillion recorded in June and also down from the N6.008 trillion earnings which it made in the May 2025 reporting circle.
However, the report showed that Nigeria’s crude oil and condensate output continued to recover, reaching 1.70 million barrels per day in July, about the highest level recorded in 2025.
Crude oil accounted for 1.4 million bpd of this production figure during the month under consideration, while condensate contributed 290,000 bpd, representing a steady improvement from June’s 1.68 million bpd and January’s 1.67 million bpd.
Besides, the national oil company recorded a strong performance in natural gas production, which averaged 7.72 billion standard cubic feet per day (bscf/d) in July,the highest so far this year, from 6.615 billion BSF per day in February.
In the same vein, gas sales climbed, reaching 4.978 bscf/d in July, an increase from 4.74 bscf/d in June and 4.70 bscf/d in May as well as 3.545 bscf/d in in February, the lowest this year so far.
The report noted that increased gas volumes were boosted by progress on critical infrastructure projects, including the Obiafu-Obrikom-Oben (OB3) Gas Pipeline and the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline.
On its strategic efforts, NNPC stated that it sustained crude oil and condensate production, improved uptime of production facilities and continued stakeholders’ collaboration and operational efficiency.
Also, it stated that additional subcontractors have been deployed to expedite completion of mainline works and fast track project completion on the AKK gas pipeline, while it has commenced implementation of revised execution strategy towards expedited completion of OB3 River Niger Crossing.
Besides, it stated that 113km portion of OB3 Gas pipeline has been commissioned and flowing about 300mmscf/d of gas from the following gas producers: AHL 250 mmscf/d as well as Platform, Chorus and Xenergi – 50 mmscf/d.
As for NNPC Foundation Public Impact Initiatives, it said the Foundation coordinated the donation of 35 CNG Buses to Presidential Initiative on CNG (PI-CNG), in conjunction with the offices of EVP Downstream and EVP, Business Services.
As part of its commitment to environmental sustainability and climate change mitigation, NNPC said it sustained the planting of 200,000 trees, which has commenced in Katsina State.
