The Nigerian National Petroleum Company Limited (NNPC Ltd.) remitted N7.913 trillion to the Federation Account between January and July 2026, even as lower production and sales dragged on its July financial performance.
According to NNPC’s July 2026 Monthly Report Summary, released on Tuesday, September 1, 2026, the company generated N3.087 trillion in revenue and recorded N279 billion in profit after tax (PAT) during the month.
The July PAT represented a 47.9% decline from the N535 billion recorded in June, while revenue fell 29.7% from N4.389 trillion in June, according to Nairametrics’ review of the report.
NNPC said crude oil and condensate production averaged 1.68 million barrels per day (bpd) in July, down from 1.72 million bpd in June and 1.73 million bpd in May.
The company attributed the July decline to operational disruptions across several assets, including facility outages, equipment unavailability, pipeline incidents and production constraints.
Crude oil and condensate sales also fell to 22.53 million barrels in July from 28.23 million barrels in June. Natural gas production declined to 7.489 billion standard cubic feet per day, while gas sales stood at 4.581 billion standard cubic feet per day.
NNPC reported that the Obiafu-Obrikom-Oben (OB3) gas pipeline reached 100% completion, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline reached 95% completion.
Upstream pipeline availability stood at 100% during July, while PMS availability at NNPC Retail stations was 52%, according to the company’s report.
NNPC said it would focus on preventive maintenance and reducing unplanned downtime to improve production. Its measures include optimising export operations at FEPL and Nembe EP, developing incremental production opportunities, activating tandem offloading at Akpo and Erha, and restoring barging operations at Obodo.
The N7.913 trillion cumulative remittance represents an increase of N1.627 trillion from the N6.286 trillion recorded between January and June, according to Nairametrics.
NNPC cautioned that the production, sales and financial figures in the July report are provisional and subject to reconciliation with relevant stakeholders.
