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.