NNPC Posts N25.13tn Revenue in Seven Months, Records N2.55tn Profit

The Nigerian National Petroleum Company Limited (NNPC) generated a staggering N25.133 trillion in revenue during the first seven months of 2026, marking a significant increase driven by strong crude oil output, stable natural gas production, and boosted operational receipts. The total Profit After Tax (PAT) for the period stood at an impressive N2.553 trillion.

Notably, NNPC's revenue and PAT exhibited significant fluctuations throughout the reporting period. In January, the company reported a PAT of N385 billion on N2.571 trillion in revenue, followed by a drop to N136 billion in February despite revenue growing to N2.680 trillion. However, profits rebounded to N276 billion in March with revenue reaching N2.77 trillion.

April saw a surge in profitability, with revenue nearly doubling to N4.971 trillion and PAT expanding to N481 billion. May and June continued to maintain high revenue and profit trajectories, with revenue of N4.335 trillion and N4.389 trillion respectively, and PAT of N462 billion and N535 billion.

July saw a slight decline in revenue to N3.087 trillion and PAT to N279 billion. Despite these fluctuations, the overall performance of NNPC in the seven-month period showcased resilience and steady growth.

The company's oil production remained robust, averaging over 1.6 million barrels per day (bpd). Crude oil production averaged between 1.27 million bpd and 1.47 million bpd, while condensate production ranged from 0.24 million bpd to 0.26 million bpd. Sales volume of combined crude oil and condensate totaled 169.18 million barrels over the reporting period.

The gas sector also demonstrated notable growth, with natural gas production rising from 7,283 million standard cubic feet per day in January to 7,458 mmscf/d in February and 7,731 mmscf/d in March. Commercial gas sales mirrored this growth trend, maintaining monthly sales volumes above 4,000 mmscf/d, peaking at 5,059 mmscf/d in March.

Operational reliability across the midstream and downstream infrastructure was commendable. Upstream pipeline availability averaged 100% in June and July, while the OB3 gas pipeline and the Ajaokuta-Kaduna-Kano (AKK) pipeline maintained high levels of availability between 92% and 100%. Downstream operations, particularly NNPC Retail Limited (NRL) stations, showed strong performance with petrol availability ranging from 52% to 58%.

The NNPC's operational stability and infrastructure improvements have been key factors in its recent production recovery. The company's strategic infrastructure projects, including the pre-commissioning works on the AKK pipeline and the River Niger crossing for the OB3 pipeline, are expected to further bolster its performance in the coming months.