Business
NNPC’s 2026 revenue hits N28.5trn, jumps 21% in August
By Obas Esiedesa, Abuja
The Nigerian National Petroleum Company, NNPC, Limited recorded cumulative revenue of N28.54 trillion in the first eight months of 2026, with revenue rising by 21.1 per cent month-on-month to N3.74 trillion in August.
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The company’s August 2026 Monthly Report Summary showed that revenue increased from N3.087 trillion in July to N3.737 trillion in August, while profit after tax rose by 54.5 per cent to N431 billion from N279 billion in the preceding month.
An analysis of the company’s reports in 2026 indicated that NNPC generated N2.571 trillion in January, N2.680 trillion in February and N2.774 trillion in March before revenue surged to N4.971 trillion in April.
Revenue subsequently stood at N4.335 trillion in May and N4.389 trillion in June before declining to N3.087 trillion in July and recovering in August.
The monthly figures showed that profit after tax stood at N385 billion in January, N236 billion in February, N276 billion in March, N481 billion in April, N462 billion in May and N535 billion in June before falling to N279 billion in July and rebounding to N431 billion in August.
Cumulatively, the company’s profit after tax amounted to N2.985 trillion in the first eight months of the year.
NNPC’s statutory payments to the government in August was N1.574 trillion bringing total payment to N9.487 trillion in 2026.
On production, the report put average crude oil and condensate output at 1.69 million barrels per day in August, slightly higher than the 1.68 million barrels per day recorded in July.
Natural gas production stood at 7,680 million standard cubic feet per day in August, up from 7,489 million standard cubic feet per day in July.
However, the August figure was below the 7,841 million standard cubic feet per day recorded in June, the highest level shown in the 12-month production chart.
Gas sales increased to 4,737 million standard cubic feet per day in August from 4,581 million standard cubic feet per day in July. Similarly, crude oil and condensate sales rose to 24.56 million barrels in August from 22.53 million barrels in July.
NNPC reported 100 per cent availability of upstream pipelines, adding that Obiafu-Obrikom-Oben (OB3) gas pipeline project had reached 100 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline was 95 per cent complete.
On the AKK project, NNPC said construction and installation activities were continuing, with the objective of delivering gas to Abuja in 2026.
For the OB3 pipeline, the company reported a major milestone with the successful commissioning and full operationalisation of the pipeline, which is intended to link the eastern and western gas network systems.
