About N6.008 trillion was generated as revenue in May 2025 from petroleum products compared with the N5.972 trillion posted in April 2025, according to the Nigerian National Petroleum Company (NNPC) Limited.
In its latest Monthly Report Summary released by the national oil company on Monday, the profit after tax rose by 14 per cent to N1.054 trillion in May from N926 billion April.
This happened as crude oil and condensate production also showed slight improvement during the month, climbing to 1.63 million barrels per day in the period under review from 1.61 million barrels per day in the preceding month, maintaining a steady recovery trend.
It was an erratic month for the country’s oil production numbers as it saw production peak for the month reached 1.72 million barrels per day.
A breakdown showed that crude oil output held flat at 1.35 million barrels per day, while condensate volumes recovered slightly to 0.28 million barrels per day in May from 0.26 million barrels per day in April.
Similarly, gas production rose slightly to 7.352 billion standard cubic feet per day, up from 7.354 billion standard cubic feet per day the previous month.
Gas sales, however, dipped marginally from 4.240 billion standard cubic feet per day in April to 4.185 billion standard cubic feet per day 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.
However, there was a decline in downstream performance as data showed fuel availability at NNPC Retail Limited stations dropped to 62 per cent in May, compared to 70 per cent in April, based on internal industry tracking.
In terms of strategic projects, the company reported steady progress on the OB3 and Ajaokuta-Kaduna-Kano gas pipeline projects. OB3 achieved 96 per cent completion, while the AKK project reached 81 per cent. Upstream pipeline availability remained strong at 98 per cent.
The report also highlighted recent interventions such as the May turnaround maintenance of key pipelines, including the Trans Escravos Pipeline, as well as multiple flow stations in OML 40 and OML 17.
This development marks the second straight month that NNPC Limited has released the data as it works towards operational transparency and sectoral impact.