The Nigerian National Petroleum Company Limited has remitted N7.91tn to the Federation Account between January and July 2026, despite a decline in crude oil and condensate production recorded in July.
The figures were contained in the company’s July 2026 operational and financial performance report released on Wednesday.
NNPC said it generated N3.09tn in revenue and recorded N279bn profit after tax during the period under review.
However, its crude oil and condensate output dropped from 1.73 million barrels per day in May to 1.72 million barrels per day in June, before falling further to 1.68 million barrels per day in July.
The oil company attributed the July decline to disruptions affecting some of its production assets.
According to the report, the disruptions included facility outages, unavailable equipment, pipeline incidents and other production constraints.
The lower output was also reflected in crude oil and condensate sales, which fell to 22.53 million barrels in July from 28.23 million barrels recorded in June.
The July figure comprised 21.53 million barrels of crude oil and one million barrels of condensate.
NNPC said it was taking steps to reverse the production decline and improve the reliability of its operations.
The company said the measures would include improved preventive maintenance, reduction of unplanned downtime and optimisation of export operations at FEPL and Nembe EP.
It also disclosed plans to develop additional production opportunities and strengthen the reliability of key facilities.
“Additional measures include the activation of tandem offloading operations at Akpo and Erha to enhance export flexibility and the restoration of barging operations at Obodo to improve production evacuation and sustain output,” the company stated.
On its gas infrastructure, NNPC reported 100 per cent availability of its upstream pipeline network.
It said pre-commissioning work had been completed on the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline, with first gas earlier targeted for August 2026.
The company also reported that construction and installation work on the Ajaokuta-Kaduna-Kano gas pipeline had reached an advanced stage, with the aim of facilitating early gas supply to Abuja in 2026.
NNPC put the availability of the AKK pipeline at 95 per cent, while the availability of NNPC Retail petrol stations stood at 52 per cent, although performance varied across regions.
The company further reported daily natural gas production of 7.49 billion standard cubic feet, while gas sales averaged 4.6 billion standard cubic feet per day.
NNPC, however, cautioned that the financial, production and sales figures contained in the report were provisional and could change after reconciliation with relevant stakeholders.
“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” it stated.
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