The Nigerian National Petroleum Company Limited (NNPC) generated N33.15tn in revenue between January and September 2026, while contributing N11.14tn to the Federation Account through statutory payments.
The revenue figure represents a 28.3 per cent decline from the N46.26tn recorded during the corresponding period of 2025, indicating a significant drop in the company’s earnings despite a slight improvement in its September performance.
According to NNPC’s September 2026 Monthly Operations and Financial Report released on Tuesday, the company generated N4.61tn in September, up from N3.74tn in August, representing a 23.3 per cent increase.
Its profit after tax also rose by 18.1 per cent to N509bn in September, compared with N431bn recorded in the preceding month.
A review of the company’s financial performance showed that revenue stood at N2.57tn in January, N2.68tn in February and N2.77tn in March. Earnings increased to N4.97tn in April before dropping to N4.34tn in May and N4.39tn in June.
Revenue subsequently fell to N3.09tn in July but recovered to N3.74tn in August and N4.61tn in September.
Despite the monthly recovery, the company’s cumulative earnings remained below its N46.26tn performance in the first nine months of 2025.
Meanwhile, NNPC’s statutory contributions to the Federation Account increased to N11.14tn by the end of September, up from N9.49tn recorded at the end of August.
However, the latest figure was approximately N417bn lower than the N11.56tn remitted during the same nine-month period in 2025, representing a 3.6 per cent decline.
The statutory payments represent funds contributed to the Federation Account and are separate from the company’s overall revenue and profit.
On its operational performance, NNPC recorded a slight increase in total hydrocarbon production to 3.04 million barrels of oil equivalent per day in September, compared with 3.01 million barrels per day in August.
Crude oil and condensate production accounted for 1.70 million barrels per day, while natural gas output increased to 7,789 million standard cubic feet per day from 7,680 million standard cubic feet per day in the previous month.
