NNPC remits N7.9tn to Federation Account in seven months
NNPC Limited remitted N7.91tn to the Federation Account from January to July 2026, despite a drop in crude oil production. Get the full report here. Read More: https://punchng.com/nnpc-remits-n7-9tn-to-federation-account-in-seven-months/
The Nigerian National Petroleum Company Limited (NNPC) remitted a total of N7.91tn to the Federation Account between January and July 2026, despite a decline in crude oil and condensate production to 1.68 million barrels per day in July. The company reported N3.09tn in revenue and N279bn in profit after tax during the period, with crude oil and condensate sales falling to 22.53 million barrels in July.
NNPC attributes the decline in production to operational disruptions across several assets, including facility outages, equipment unavailability, and pipeline incidents. The company stated that it is implementing measures to improve production, such as optimizing export operations and strengthening operational reliability across key facilities.
Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
