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The Nigerian National Petroleum Company Limited (NNPCL) Tuesday has announced a number of N6.008 trillions of N6.008 as entry for the month of May 2025.
In a declaration published on his X Trust Manille, the amount is higher than those of N5,972 trillion recorded in April.
According to the summary of the monthly report for May 2025, the increase was possible due to the improvement of the production of crude oil and condensation which stood at 1.629 barrels per day.
The profit tax rose to n1,054 trillions in May from n926 billion in April, representing a 14 %increase.
The company stated that the sum of N5.583 represents the legal payment for January-April, 2025.
The report also stated that gas production increased slightly to 7.352 billion standard cubic feet per day just like gas sales increased to 4.185 billion MMSCFDs in May.
In terms of strategic projects, the company has reported constant progress on the projects of OB3 Gasdotti projects and Ajaokuta-Kaduna-Kano.
Ob3, he said, reached 96 % completion, while the Akk project reached 81 %. The availability of Pipeline upstream remained at 98 %strong.
The report also highlighted recent interventions such as the maintenance of the turnaround of the key conduct including the Trans Excravos pipeline, as well as more flow stations in OML 40 and OML 17.
“On strategic efforts, advanced or Akk technical interventions to resolve the challenges of the Niger river crossing and conduct a detailed evaluation on OB3 RNC to determine the best process of execution of the project in the future.
“Trendy reversal maintenance completed in May. Transcravos trans pipe. Opuama flow station. Obigbo and agbada flow stations.
“State of the refineries: Phc WRPC and KRPC Review in progress,” says the report.
… CSR
According to its corporate social responsibility portfolio, the NNPC Foundation has declared that it has completed 6,028 cataract interventions across the country and distribute start -up packages to 531 members of the NYSC Corps on May 22, also providing equipment for magnetic resonance imaging with the hospitals of the States of Kano and Anambra.
“A supply of magnetic resonance imaging machines are underway at the National Orthopedic Hospital, Dala-Kano (Nohdk) and Nnamdi Azikiwe University Teaching Hospital, Awka (Nauth).
“A total of 4,931 vulnerable farmers in the southern region of Nigeria received complete training on modern agricultural techniques, the adaptation of climate change and market access,” said NNPCL in the report.
… revaluation of JV contracts
In a related development, the Federal Government has expressed its preparation to re -evaluate the partnerships existing in the oil and gas sector.
This, he said, was to align with its strategic national objectives for the development of resources and the creation of economic value.
The Minister of State for oil resources (oil), Senator Heineken Lokpobiri announced it at the Nigerian conference of oil and 2025 gas in Abuja Tuesday.
He declared that the government was tired of the promises, insisting on the fact that the operators in the sector had to start showing performance.
The theme of the conference is “accelerating energy progress through investments, global partnerships and innovation”.
Giving himself to the rally, Lokpobiri said: “It is no longer acceptable that the critical national resources remain in the hands that do not have the technical or financial ability to optimize them or worse, those who use such licenses simply as a lever to access a poor capital, just to divert it to unrelated fans. Our oil industry has witnessed too many cautious stories of this nature and now they must draw a clear.
“We try to be clear: the joint ventures and the financial/technical service agreements (FTSA) are not weapons to keep the sector hostage. They are framework built on the trust that you will act in the best interest of the nation. If you cannot, it is time to take a step forward or take a part through the partnership.
“The mandate of his excellence, President Bola Ahmed Tinubu, at the new Council NNPC Ltd to review all the existing agreements for the operation is not only an administrative exercise, is a clear signal. Operators must wake up with glued converts. Measureable output.”
“It is worth noting, as regards the strategic concern, that the volumes of production of a company before the importance of the petroleum industry act (Pia) were higher than what we are currently delivering today even with the full benefit of the incentives and policies in favor of the business that put you incorporated. Here? And, above all, what will we do differently?
“The Federal Government has implemented large -scale reforms, executive orders, tax incentives, simplified regulatory processes to make the work of the operators easier and the most attractive investments. But the question remains: where is the production?
“We cannot continue in this way. If we take the increase in production and the recovery of the legitimate place of Nigeria among the main oil producers, then each operator must show the cause – for performance, not promised.
“We are not just chasing barrels. We are building an economy. One that reflects the aspirations of the Nigerians, the commitment of this administration and the immense potential of our resources.
“The government has done a lot and is willing to do more, but the results must now speak for themselves. The responsibility is collective, but the obligation to deliver first to those who hold the activities.
“We recognize that, in the past, the law on local content was sometimes incorrectly applied. However, with the advent of President Bola Ahmed Tinubu, we are returning to the real principles of the act one that allows companies, both large and small, to coexist and manage the minister.
… Pia improves regulatory clarity
For his part, the Minister of State, Petroleum Resources (Gas), Ekperikpe Ekpo, said that the full implementation of the Petroleum Industry Act (Pia) has improved the regulatory clarity and trust of investors, offering a single transparent legal framework on which investors can rely.
Ekpo observed that while the law has introduced a revised tax framework that is more competitive on a global level, especially in the gas and deep water sectors, he said that significant progress has been feasible in facing Legacy debts to gas producers and ensuring that commercial framework for key infrastructures are practicable.
“Activation of the Gas Infrastructure Fund (MDGIF) to the medium and downstream now provides a dedicated vehicle for the mobilization of capital. From modular gas systems to the expansion of the gas pipeline and to virtual gas networks, we are aligning the incentives of investments with the execution of the project.”
With proven natural gas reserves that are currently found at 210.54 trillions of cubic feet (TCF), the minister reiterated the depth desire of the government to use his huge gas resources.
He said: “Today Nigeria boasts one of the largest gases of gases proven in the world with over 200 trillions of cubic feet of proven natural gas reserves, however we recognize that the value is created only when the resources are developed and used.
“During the decade of the gas initiative, we focus on the translation of our vast richness of gases in tangible socio-economic benefits. This includes the guiding of industrialization, the expansion of the generation of energy, the increase in the use of internal LPG, the deepening of the gas-lent adoption and the growth of the export ability of the gas.
“The Ajobuta gas pipeline – Kaduna – Kano (Akk) has reached a significant milestone, scoring a big leap in our push to industrialize northern Nigeria and strengthen the internal distribution of the gas. We are equally optimistic.
