NNPC Limited has recorded a profit after tax of ₦535 billion for June 2026, representing a 15.8 per cent increase over the ₦462 billion posted in May, even as the state-owned energy company announced that the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project is now 94 per cent complete, bringing gas supply to Abuja closer to reality.
The company’s latest Monthly Financial and Operations Report also revealed significant progress on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project, which has reached 98 per cent completion and is expected to achieve First Gas in August this year.
The report showed that NNPC generated total revenue of ₦4.389 trillion in June, while its cumulative statutory payments to the Federation between January and June 2026 rose to ₦6.286 trillion, reinforcing its position as one of the country’s biggest contributors to government revenue.
On crude oil production, the national oil company recorded a marginal decline, with average crude oil and condensate output falling to 1.72 million barrels per day (mmbopd) from 1.73 million barrels per day in May.
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NNPC attributed the slight drop to operational disruptions, facility integrity challenges and subsurface issues across some of its producing assets.
However, the company recorded improved performance in gas production. Natural gas output increased by 0.86 per cent to 7.841 million standard cubic feet per day (mmscf/d), compared to 7.774 mmscf/d in the preceding month, reflecting the company’s sustained investment in Nigeria’s gas value chain.
The progress recorded on the AKK Gas Pipeline is particularly significant as it is expected to unlock gas supply to Abuja and other northern industrial corridors, thereby supporting power generation, industrialisation and economic growth. According to the report, construction and installation activities on the project have reached 94 per cent completion, with early gas delivery to Abuja targeted before the end of 2026.
Similarly, the OB3 Gas Pipeline project, which is designed to connect eastern and western gas networks in Nigeria, has attained 98 per cent completion. Final tie-in works are currently underway ahead of the commencement of First Gas in August 2026.
Industry analysts say the completion of the two strategic gas infrastructure projects will significantly enhance domestic gas utilisation, improve energy security and support the Federal Government’s gas-driven economic diversification agenda.
The June performance underscores NNPC Limited’s dual focus on improving profitability and accelerating critical energy infrastructure projects that are central to Nigeria’s economic and industrial development.
