BUSINESS
NNPC’s Nine-Month Profit Hits N3.49trn As Revenue Surges To N33.15trn
The Nigerian National Petroleum Company Limited (NNPC) has reported a cumulative Profit After Tax (PAT) of N3.494 trillion for the first nine months of 2026, following an 18.1 per cent increase in its September earnings.
The company’s September 2026 Monthly Operations and Financial Report showed that its profit rose to N509 billion in September from N431 billion recorded in August.
The latest figures bring NNPC’s total profit between January and September to N3.494 trillion.
A breakdown of the monthly performance showed that the company recorded profits of N385 billion in January, N136 billion in February, N276 billion in March, N481 billion in April, N462 billion in May, N535 billion in June, N279 billion in July, N431 billion in August and N509 billion in September.
The report further revealed that NNPC generated a total revenue of N33.152 trillion during the nine-month period.
Its September revenue increased by 23.3 per cent to N4.608 trillion, compared with N3.737 trillion recorded in August.
Monthly revenue figures stood at N2.571 trillion in January, N2.680 trillion in February, N2.774 trillion in March, N4.971 trillion in April, N4.335 trillion in May, N4.389 trillion in June and N3.087 trillion in July.
On its statutory obligations, the national oil company disclosed that its payments into the Federation Account and other statutory remittances rose to N11.14 trillion between January and September.
The figure represents an increase of N1.65 trillion, or 17.4 per cent, compared with the N9.49 trillion recorded between January and August.
On operational performance, average crude oil and condensate production stood at 1.70 million barrels per day in September.
Natural gas production also increased to 7,789 million standard cubic feet per day, up from 7,680 million standard cubic feet per day recorded in August.
Total hydrocarbon production, comprising crude oil, condensate and natural gas equivalent, averaged 3.04 million barrels of oil equivalent per day during the period.
NNPC also reported 100 per cent availability of its upstream pipeline infrastructure in September.
Regarding gas infrastructure development, the company said the Obiafu-Obrikom-Oben (OB3) Gas Pipeline had reached 100 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline was 95 per cent complete.
It added that the OB3 River Niger Crossing pipeline had been commissioned and put into operation.
According to NNPC, engagements with relevant stakeholders were ongoing to accelerate construction and pre-commissioning activities on the AKK project.
The company said it was targeting the delivery of early gas supply to Abuja before the end of 2026.
