NNPC Releases Financial Report, Discloses Revenue, Amount Remitted to Govt Account in One Month
- NNPC Limited recorded N3.087 trillion in revenue and N279 billion profit after tax in July 2026
- The national oil company’s cumulative statutory payments to government rose to N7.913 trillion between January and July
- Statutory payments increased by N1.627 trillion in July, while upstream pipeline availability remained at 100% for the second consecutive month
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
NNPC Limited has released its July 2026 financial and operational report, disclosing the revenue generated and the amount remitted to government accounts during the month.
According to the report, the national oil company recorded N3.087 trillion in revenue and a profit after tax of N279 billion in July 2026.
Source: Twitter
The company also disclosed that its cumulative statutory payments between January and July 2026 reached N7.913 trillion, representing a significant contribution to government revenue.
The latest figure was up from the N6.286 trillion recorded between January and June, meaning NNPC added N1.627 trillion to its statutory payments in July alone.
The figures were contained in NNPC Limited's Monthly Report Summary for July 2026, which also provided updates on crude oil production, natural gas output, pipeline availability and downstream petroleum operations.
NNPC records 1.68m barrels daily oil output
The report showed that NNPC Limited produced 1.68 million barrels of oil equivalent per day (mmbopd) in July, comprising crude oil and condensate.
July production declined from 1.72mmbopd in June and the 12-month peak of 1.73mmbopd recorded in May 2026.
NNPC attributed the decline to operational challenges across some of its assets, including facility outages, equipment failures, pipeline incidents and other production constraints.
The company said it would focus on preventive maintenance, reducing unplanned downtime and improving export operations to support higher production in the coming months.
Gas production falls in July
Natural gas production also declined during the month.
NNPC reported gas production of 7,489 million standard cubic feet per day (mmscf/d) in July, compared with 7,841mmscf/d in June.
Gas sales stood at 4,581mmscf/d during the period.
The company said it plans to improve production by maintaining high facility uptime and optimising operations across its upstream assets.
NNPC also plans to optimise export operations at FEPL and Nembe EP, activate tandem offloading operations at Akpo and Erha, and restore barging operations at Obodo.
NNPC sustains 100% pipeline availability
The July report also highlighted the performance of NNPC's upstream pipeline infrastructure.
The company sustained 100% upstream pipeline availability for the second consecutive month, indicating that the infrastructure remained available for crude oil transportation and evacuation.
On the gas infrastructure front, the Obiafu-Obrikom-Oben (OB3) gas pipeline recorded 100% upstream availability.
NNPC said pre-commissioning activities on the River Niger Crossing had been completed ahead of planned first gas delivery in August 2026.
Construction of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline also reached 95% completion, with early gas supply to Abuja targeted before the end of 2026.
Source: Twitter
Petrol availability stands at 52%
The company also reported that petrol availability across NNPC Retail stations stood at 52% in July 2026.
With N7.913 trillion in statutory payments recorded between January and July, the company remains a significant contributor to government revenue.
The July figures also show that while NNPC's oil production declined during the month, the company maintained strong financial performance, recording N279 billion in profit after tax and N3.087 trillion in revenue.
Diesel price rises by 86.40%
Earlier, Legit.ng reported that The National Bureau of Statistics (NBS) has revealed that the average retail price of Automotive Gas Oil (AGO), commonly known as diesel, increased by 86.40% year-on-year to N3,277.47 per litre.
According to the latest diesel price watch report released by the statistics agency, the figure rose from N1,758.26 per litre.
The increase reflects continued pressure on energy costs
Source: Legit.ng
