NNPC Revenue Falls 28% to N33.15trn

NNPC Revenue Falls 28 % to N33.15 trn

The Nigerian National Petroleum Company Limited produced N33.15 trillion in profits in between January and September 2026, a 28.3 percent decrease from the N46.26 trillion taped in the exact same duration of 2025.

The business likewise paid an overall of N11.14 trillion to the Federation Account as statutory payments in between January and September 2026.

The figures were consisted of in NNPC’s September 2026 Monthly Operations and Financial Report launched on Tuesday.

An analysis of the business’s regular monthly reports revealed NNPC made N13.11 trillion less in the very first 9 months of 2026 than it created in the exact same duration in 2015, highlighting pressure on its income efficiency in spite of enhancements in some production indications.

The decrease came in spite of a strong September efficiency, when NNPC’s earnings increased to N4.608 trillion from around N3.74 trillion in August, representing month-on-month development of about 23.3 percent.

The business likewise taped an earnings after tax of N509 billion in September, an 18.1 percent boost from the N431 billion reported in August.

A breakdown of the earnings figures revealed NNPC produced N2.571 trillion in January, N2.680 trillion in February and N2.774 trillion in March.

Its profits consequently increased greatly to N4.971 trillion in April before moderating to N4.335 trillion in May and N4.389 trillion in June.

Profits dropped to N3.087 trillion in July before recuperating to N3.737 trillion in August and N4.608 trillion in September.

The September efficiency represented the business’s greatest regular monthly earnings because April, when it created nearly N5 trillion.

The enhancement was inadequate to reverse the earnings shortage built up throughout the year, leaving its nine-month incomes substantially listed below the previous year’s efficiency.

A contrast with the 2025 month-to-month reports revealed NNPC produced N3.824 trillion in January, N6.624 trillion in February, N5.475 trillion in March, N5.891 trillion in April and N6.008 trillion in May.

The business consequently tape-recorded N5.105 trillion in June, N4.406 trillion in July, N4.655 trillion in August and N4.269 trillion in September.

The combined figure of N46.257 trillion represented a substantially more powerful earnings efficiency than the N33.152 trillion taped in the very first 9 months of 2026.

The current efficiency is coming versus the background of NNPC’s full-year 2025 monetary outcomes, which revealed its income decreased by 24 percent to N34.5 trillion from N45.1 trillion in 2024.

In spite of the income decrease, its earnings after tax increased by 33 percent to N7.2 trillion from N5.4 trillion, while profits before interest, taxes, devaluation and amortisation increased by 22 percent to N18 trillion.

The business’s statutory payments to the Federation Account reached N11.14 trillion in between January and September 2026, representing a boost of 17.4 per cent over the N9.49 trillion tape-recorded in the very first 8 months of the year.

The September figure included roughly N1.65 trillion to the cumulative statutory payments reported at the end of August.

A contrast with the month-to-month statutory payment figures included in NNPC’s 2025 report revealed the business remitted around N11.56 trillion in between January and September in 2015.

This suggests that the business’s cumulative statutory payments in the very first 9 months of 2026 had to do with N417 billion, or 3.6 percent, lower than the matching 2025 figure.

The statutory payments make up a various monetary procedure from income and revenue, showing the business’s payments to the federation instead of its overall organization profits.

On the functional front, NNPC reported overall hydrocarbon production of 3.04 million barrels of oil comparable each day in September, compared to 3.01 million barrels taped in August.

Petroleum and condensate production stood at 1.70 million barrels daily, while gas production increased to 7,789 million basic cubic feet daily from 7,680 million basic cubic feet each day in August.