By Obas Esiedesa, Abuja
The Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, has disclosed that the company remitted N19.5 trillion to the Federation Account between April 2025 and June 2026.
Speaking at the 2026 Nigeria Oil and Gas Energy Week in Abuja on Tuesday, Ojulari said the company also achieved $3.4 billion in cost savings during the period through contract restructuring and optimisation.
According to him, oil production increased by six per cent year-on-year to 569.7 million barrels, while gas production rose by 8.1 per cent to 2.576 billion standard cubic feet.
He said NNPC recorded an average recovery rate of 98 per cent across its five crude oil export terminals between April 2025 and May 2026, compared with operational lows of about one per cent at the Bonny Oil and Gas Terminal in June 2022.
