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The Nigerian National Petroleum Company Limited (NNPC Ltd) has declared a dividend of N5.8 trillion and recorded a profit after tax of N7.2 trillion, amid a significant improvement in the country’s crude oil production.
The company said Nigeria’s crude oil production rose to 1.71 million barrels per day, representing the highest production level recorded in five years. NNPC’s Group Chief Executive Officer, Bashir Bayo Ojulari, disclosed the figures while presenting the company’s one-year performance scorecard.
According to NNPC, the improved production was accompanied by stronger operational performance across its upstream and gas businesses. NNPC Exploration and Production Limited (NEPL) reached a record production level of 365,000 barrels per day, while national gas production increased to 7.5 billion standard cubic feet per day.
The company also reported improved reliability across its crude oil export infrastructure, recording an average 98 per cent recovery across five crude oil export terminals between April 2025 and May 2026.
NNPC said it maintained full compliance with its Joint Venture cash-call obligations throughout 2025 and up to June 2026, while continuing efforts to raise crude oil production to 2 million barrels per day.
The company further disclosed that it had signed Gas Sale and Purchase Agreements covering 1.29 billion standard cubic feet per day for long-term LNG feed gas, as well as another 750 million standard cubic feet per day for domestic industrial gas supply.
The latest performance comes as NNPC continues its transition into a commercially driven energy company following its incorporation under the Petroleum Industry Act.
