NNPC records N3.09trn revenue, N279bn profit after tax in July 2026

Business, Corporate Affairs

ABUJA, Nigeria (NPA) — The Nigerian National Petroleum Company (NNPC) Ltd recorded N3.087 trillion in revenue and N279 billion in profit after tax in July 2026, according to its Monthly Report Summary for the month.

The report also showed that the company recorded crude oil and condensate production of 1.68 million barrels per day (mmbopd), while natural gas production stood at 7,489 million standard cubic feet per day (mmscf/d).

NNPC Ltd said statutory payments between January and July 2026 amounted to N7.913 trillion.

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The company’s upstream pipeline availability stood at 100 per cent during the period, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline recorded 95 per cent progress. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline recorded 100 per cent in the reported milestone.

The report said pre-commissioning activities for the OB3 River Niger Crossing had been completed in preparation for first gas in August 2026.

It also stated that construction and installation works on the AKK Gas Pipeline were at an advanced stage, with efforts focused on delivering early gas to Abuja in 2026.

On gas sales, NNPC Ltd recorded 4,581 mmscf/d in July, compared with 4,970 mmscf/d in June and 4,921 mmscf/d in May, according to the report’s monthly trend chart.

The company’s crude oil and condensate sales stood at 22.37 million barrels (MMbbls) in July, compared with 28.23 million barrels in June and 18.95 million barrels in May.

NNPC Ltd attributed the July crude oil production performance to a combination of operational disruptions across several assets.

It listed facility outages, equipment unavailability, pipeline incidents and other production constraints among the factors that affected output during the month.

The company said production improvement efforts would focus on sustaining high facility uptime through effective preventive maintenance programmes and reducing unplanned downtime.

According to the report, other initiatives include optimising export operations at FEPL and Nembe EP, developing incremental production opportunities across the portfolio and strengthening operational reliability at key facilities.

NNPC Ltd also said tandem offloading operations at Akpo and Erha would be activated to enhance export flexibility, while the restoration of barging operations at Obodo would improve production evacuation and help sustain output.

On petroleum products availability, the report showed that PMS availability across NNPC Retail stations stood at 52 per cent during the reporting period.

NNPC Foundation, NYSC strengthen youth entrepreneurship partnership

The report also highlighted the activities of the NNPC Foundation, which reaffirmed its partnership with the National Youth Service Corps (NYSC) to promote youth entrepreneurship through the NYSC Skills Acquisition and Entrepreneurship Development (SAED) programme.

According to the report, the Foundation has, since 2023, provided financial literacy empowerment to more than 1.3 million corps members and supported 531 beneficiaries with start-up packs and business grants.

The partnership is aimed at strengthening entrepreneurial development through financial literacy, enterprise support, digital innovation and data-driven impact measurement.

The initiative seeks to equip corps members with skills and resources to become job creators and future business leaders.

NNPC Ltd noted that all production, sales and financial figures contained in the July report were provisional and subject to reconciliation with relevant stakeholders.