NNPC May revenue drops 13% to N4.34trn

The Nigerian National Petroleum Company (NNPC) Limited has posted a weaker financial results in May 2026, with revenue dropping by nearly 13 per cent from the previous month despite maintaining relatively stable crude oil and gas production.
The company’s latest Monthly Report for May showed that revenue declined to N4.335 trillion in May from N4.971 trillion recorded in April.   Profit after tax(PAT) also slipped to N462 billion, compared to N481 billion in the preceding month.
Although production remained resilient, market conditions and other operational factors weighed on the company’s earnings during the month. According to the report, crude oil and condensate production remai...