Thursday, November 5

​NNPC Revenue Drops 28% to N33.15tn in Nine Months, Remits N11.14tn to Federation Account


​ABUJA — The Nigerian National Petroleum Company Limited (NNPC) generated N33.15 trillion in revenue between January and September 2026, marking a 28.3 per cent (N13.11 trillion) decline compared to the N46.26 trillion recorded during the same period in 2025.
​Despite the top-line revenue drop, the national oil company remitted N11.14 trillion in statutory payments to the Federation Account over the nine-month period, according to details from NNPC’s September 2026 Monthly Operations and Financial Report.
​The company’s nine-month statutory remittances represented a minor 3.6 per cent (N417 billion) decline compared to the N11.56 trillion remitted to the Federation Account between January and September 2025.
​Q3 Recovery and September Surge
​The report highlighted a sharp operational rebound in late Q3, driven by a strong September performance where monthly revenue rose by 23.3 per cent to N4.61 trillion, up from N3.74 trillion in August.
​NNPC’s Profit After Tax (PAT) for September also grew by 18.1 per cent month-on-month, hitting N509 billion compared to N431 billion recorded in August.
​2026 Monthly Revenue Breakdown:
​Q1: January (N2.57tn), February (N2.68tn), March (N2.77tn)
​Q2: April (N4.97tn — peak), May (N4.34tn), June (N4.39tn)
​Q3: July (N3.09tn), August (N3.74tn), September (N4.61tn)
​While September represented the strongest monthly revenue output since April’s near-N5 trillion peak, it was insufficient to offset earlier shortfalls relative to 2025, when monthly earnings routinely exceeded N5 trillion to N6 trillion.
​Production Gains and Remittances
​In statutory contributions, NNPC added approximately N1.65 trillion in September alone, lifting total 2026 remittances from N9.49 trillion at the end of August to N11.14 trillion.
​On the operational front, production indicators showed positive momentum:
​Total Hydrocarbon Production: Rose to 3.04 million barrels of oil equivalent per day (mmboed) in September, up from 3.01 mmboed in August.
​Crude & Condensate Output: Stood at 1.70 million barrels per day (mbpd).
​Natural Gas Production: Increased to 7,789 million standard cubic feet per day (mmscfd), compared to 7,680 mmscfd in August.

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