Nigerian National Petroleum Company Limited Logo. Photo: NNPC
The Nigerian National Petroleum Company Limited recorded a decline in its financial performance in May 2026, with revenue dropping by nearly 13 per cent to N4.335tn despite maintaining stable crude oil and natural gas production.
The national oil company disclosed this in its latest Monthly Report Summary released on Wednesday.
According to the report, revenue fell by N636bn from the N4.971tn recorded in April, while profit after tax also declined to N462bn from N481bn in the preceding month.
The figures indicate that despite relatively stable production levels, market conditions and operational challenges weighed on the company’s earnings during the month.
