NNPC monthly revenue drops 12.8% to N4.34tn despite higher oil output

By Obas Esiedesa, Abuja
The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a 12.8 per cent decline in monthly revenue in May 2026, generating N4.335 trillion compared with N4.971 trillion in April, despite improvements in crude oil and natural gas production.
The company’s latest Monthly Report Summary also showed that Profit After Tax (PAT) fell to N462 billion in May from N481 billion recorded in April, representing a 2.27 per cent decline.
According to the report, average crude oil and condensate production rose to 1.73 million barrels per day (mbpd) in May from 1.68 mbpd in April, representing a 2.98 per cent month-on-month increase.
Average natural gas produ...