The Nigerian National Petroleum Company (NNPC) Limited recorded a 54.5 per cent increase in profit after tax to ₦431bn in August 2026, up from ₦279bn in July, as its revenue and statutory payments also rose.
The increase was disclosed in the company’s monthly operations and financial report for August, released on Monday.
NNPC’s revenue climbed to ₦3.74tn during the month, compared with ₦3.09tn in July, while cumulative statutory payments to the government and other relevant authorities rose to ₦9.49tn between January and August.
The figure represented a 19.89 per cent increase from the ₦7.91tn recorded between January and July.
The report also showed that average crude oil and condensate production stood at 1.69 million barrels per day in August, comprising approximately 1.43 million barrels of crude oil and 250,000 barrels of condensate.
Gas production increased to 7,680 million standard cubic feet per day from 7,489 million standard cubic feet per day in July.
NNPC attributed the improvement in crude oil output partly to the resolution of incidents involving SBM-related operations on Floating Production Storage and Offloading vessels.
However, the company said production remained constrained by drilling-related deferments, equipment and facility maintenance, gas curtailment, pipeline and flowline integrity problems, as well as tank-top and offtake limitations.
On infrastructure, the report put upstream pipeline availability at 100 per cent.
It also disclosed that the Obiafu-Obrikom-Oben gas pipeline had been commissioned and fully operationalised, connecting Nigeria’s eastern and western gas network systems.
The Ajaokuta-Kaduna-Kano gas pipeline was reported to be 95 per cent complete, with NNPC working with stakeholders towards delivering gas to Abuja in 2026.
Despite the increase in revenue and profit, the availability of Premium Motor Spirit at NNPC Retail stations stood at 54 per cent in August.
The company cautioned that all production, sales and financial figures in the report were provisional and subject to reconciliation with relevant stakeholders.
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