NNPC Posts N431bn August Profit as Revenue Climbs to N3.74trn

The Nigerian National Petroleum Company (NNPC) Limited recorded N3.737 trillion in revenue in August 2026, representing a 21.1 per cent increase from the N3.087 trillion generated in July.

The company’s profit after tax also rose significantly during the month, increasing by 54.5 per cent from N279 billion in July to N431 billion in August.

According to NNPC’s August 2026 Monthly Report Summary, cumulative revenue for the first eight months of the year stood at N28.54 trillion, while total profit after tax reached N2.985 trillion.

The company’s monthly revenue figures showed that it generated N2.571 trillion in January, N2.680 trillion in February and N2.774 trillion in March. Earnings then surged to N4.971 trillion in April before moderating to N4.335 trillion in May and N4.389 trillion in June.

Revenue declined to N3.087 trillion in July before recovering to N3.737 trillion in August.

Profit after tax was N385 billion in January, N236 billion in February and N276 billion in March. It rose to N481 billion in April and N462 billion in May before reaching N535 billion in June. The figure fell to N279 billion in July but rebounded to N431 billion in August.

Government Payments Reach N9.49trn

NNPC’s statutory payments to the Federal Government stood at N1.574 trillion in August, taking its cumulative payments for the first eight months of 2026 to N9.487 trillion.

The report also showed a slight improvement in crude oil and condensate production, with average output rising from 1.68 million barrels per day in July to 1.69 million barrels per day in August.

Natural gas production increased to 7,680 million standard cubic feet per day from 7,489 million standard cubic feet per day in the preceding month.

Despite the increase, August’s gas production remained below June’s 7,841 million standard cubic feet per day, which was the highest level recorded in the 12-month production chart.

Gas sales rose to 4,737 million standard cubic feet per day in August, compared with 4,581 million standard cubic feet per day in July.

Meanwhile, crude oil and condensate sales increased from 22.53 million barrels in July to 24.56 million barrels in August.

NNPC Reports Progress on Major Gas Pipelines

The national oil company said upstream pipeline availability stood at 100 per cent in August.

It also reported that the Obiafu-Obrikom-Oben (OB3) gas pipeline had achieved 100 per cent completion, while work on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline had reached 95 per cent completion.

NNPC said construction and installation activities on the AKK project were ongoing, with the objective of delivering gas to Abuja in 2026.

The company also announced the successful commissioning and full operationalisation of the OB3 pipeline, which is expected to connect the eastern and western gas network systems.

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