• Profit falls 3.9% to N462bn despite improved oil, gas output
•Oil company records N4.3tn revenue
Emmanuel Addeh in Abuja
Nigerian National Petroleum Company Limited (NNPC) yesterday announced that it remitted a cumulative N4.858 trillion to the Federation Account as of the end of May 2026, representing a sharp 30.8 per cent increase from the N3.714 trillion recorded a month earlier.
Figures contained in the NNPC Monthly Report Summary for May 2026 showed that cumulative statutory payments to the federation rose by N1.144 trillion between April and May, with Profit After Tax (PAT) declining to N462 billion from N481 billion during the period.
