NNPC Limited, formally known as the Nigerian National Petroleum Company Limited, has reported that Nigeria’s crude oil and condensate production rose to 1.73 million barrels per day (mbpd) in May 2026, up from 1.68 mbpd in April, marking a five-month high.
The company said the improvement was driven by stronger asset reliability and higher production uptime across key oil facilities, according to its monthly performance report released on July 1.
However, it noted that output growth was partly constrained by operational challenges, including weak well performance at TEPNG, reservoir pressure issues at the Bonga field, lifting restrictions at Nembe, and scheduled maintenance at the Stardeep Agbami asset.
On the financial side, NNPC reported a profit after tax of ₦462 billion for May, with total revenue reaching ₦4.335 trillion. Between January and May 2026, total statutory remittances to the Federal Government stood at ₦4.858 trillion.
Gas production also improved significantly, reaching a 12-month high of 7,774 million standard cubic feet per day (mmscf/d). However, gas sales declined slightly to 4,921 mmscf/d from 5,044 mmscf/d in April.
Despite higher production levels, crude oil and condensate sales dropped to 18.95 million barrels in May, compared to 23.65 million barrels in April, reflecting weaker offtake.
NNPC also recorded strong pipeline performance, with upstream pipeline availability at 98%, while work continued on several major gas infrastructure projects.
The Obiafu-Obrikom-Oben (OB3) Gas Pipeline is now 97% complete, with major progress on the River Niger crossing, and is expected to be commissioned by the end of Q3 2026.
Similarly, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline has reached 94% completion, with ongoing construction and pre-commissioning activities aimed at enabling early gas delivery to Abuja in 2026.
At the downstream level, fuel availability remained uneven, with Premium Motor Spirit (PMS) supply across NNPC Retail stations standing at 57%.