The Nigerian National Petroleum Company Limited NNPCL posted a cumulative profit after tax of ₦2.275 trillion in the first six months of 2026, driven by higher international crude oil prices. An analysis of the company's monthly financial and operational reports shows that the strong performance came amid volatility in the global oil market.

Crude oil prices rose significantly during the period, especially in June, following military tensions between the United States and Iran, which sparked concerns over possible supply disruptions through the Strait of Hormuz, a key global oil shipping route.

The increase in global crude prices boosted Nigeria's oil earnings, enabling the state-owned oil company to record stronger revenue despite fluctuations in monthly profitability and crude oil production.

— NAIRAMETRICS