The Nigerian National Petroleum Company Limited (NNPC) recorded a ₦4.26 trillion revenue in August alone, according to the company’s September 2025 monthly performance report released on Tuesday.
The firm also remitted ₦10.073 trillion to the Federation Account between January and August 2025.
The remitted funds include proceeds from crude and condensate sales, gas sales, royalties, taxes, and other payments due to the Federation.
Remittance in August was an increase of about ₦1.21 trillion compared to July.
Between January and July 2025, the company’s cumulative remittance was around ₦8.86 trillion.
Crude oil and condensate production averaged 1.61 million bpd in September, as against 1.65 million barrels per day in August, which further represented a 2.9 per cent dip from July’s 1.70 million bpd production.
Crude oil and condensate production averaged around 1.56 to 1.69 million barrels per day during the period, including condensates.
Although below the nation’s technical capacity, the level was sufficient to support a reasonable inflow into government accounts.
The report attributed temporary output moderation to planned maintenance activities at key facilities, including the Nigeria LNG plant, and delays in the recommencement of operations at certain oil mining leases.
Backed by steady crude oil and gas output, stronger product availability, and improved operational efficiency across its facilities, it declared profit after tax was N539 billion in August.
Profit declined in September to ₦216 billion- about ₦323 billion reduction.
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But the September profit was an increase compared to the ₦185 billion declared in July; but a slump from the ₦905 billion declared for its June operations, and a further drop from the ₦1.054 trillion recorded in the previous month of May.
On gas, average daily production stood at about 6.28 billion standard cubic feet per day in September, while a significant portion of this was commercialised through domestic and export channels, contributing to the overall revenue performance.
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