NNPC June profit surges 15.8% to N535 billion, highest in 10 months

The state-owned energy giant's rebound from May's decline signals stabilizing operations, though broader market impact remains limited without share price data.

By Handelsavisen Newsroom · Automated 31 July 2026, 11:10 UTC · 1 min read

Nigeria National Petroleum Company (NNPC) reported a sharp recovery in profitability for June, with net profit jumping 15.8% to N535 billion.

The figure marks the highest monthly profit for the state-owned energy giant in 10 months, reversing a downward trend that saw earnings fall to N462 billion in May.

34 trillion in the previous month, reflecting operational headwinds that weighed on the company's bottom line.

The improvement comes after NNPC's total revenue had dropped to N4.34 trillion in the previous month, reflecting operational headwinds that weighed on the company's bottom line.

The June rebound suggests a stabilization in the firm's core activities, although specific drivers for the revenue recovery were not detailed in the initial report.

This development follows a broader period of volatility for Nigerian corporate earnings.

While NNPC struggles with monthly fluctuations, other major Nigerian firms have shown resilience.