The Nigerian National Petroleum Company Limited (NNPCL) has announced N6.008 trillion revenue for the month of May 2025.
May’s revenue is a slight rise from the N5.972 trillion recorded in April, amid improved crude oil and condensate production.
This is according to the latest monthly report summary released by the national oil company on Monday.
The state-owned oil firm said its profit after tax rose by 14 percent to N1.054 trillion in May, up from N926 billion in April.
Similarly, crude oil and condensate production climbed to 1.63 million barrels per day in May from 1.61 mbpd in April, maintaining a steady recovery trend.
The production peak for the month reached 1.72 mbpd.
A further breakdown showed that crude oil output held flat at 1.35 mbpd, while condensate volumes recovered slightly to 0.28 mbpd in May from 0.26 mbpd in April.
In the same vein, gas production rose slightly to 7.352 billion standard cubic feet per day, up from 7.354 billion mmscfd the previous month. Gas sales, however, dipped marginally from 4.240bn mmscfd in April to 4.185bn mmscfd in May.
On the sales side, crude oil and condensate sales improved significantly, jumping to 24.77 million barrels in May from 22.16 million barrels in April. This marked the highest sales volume since February.
Recall that the Bayo Ojulari-led NNPCL released its first summary report for April last month.