The Nigerian National Petroleum Company Limited (NNPC) recorded a sharp decline in its profit after tax for July 2025, tumbling from N905 billion in June to just N185 billion—a drop of almost 80 percent.

NNPC’s monthly report revealed that revenue also fell to N4.41 trillion in July, down from N4.57 trillion the previous month. The decline occurred even though crude oil production slightly increased from 1.68 million barrels per day (mbpd) to 1.7 mbpd, while natural gas output rose to 7.7 billion cubic feet (bcf) from 7.58 bcf.

The report highlighted continued progress in key infrastructure projects. The Ajaokuta-Kaduna-Kano (AKK) gas pipeline and the Obiafu-Obrikom-Oben (OB3) pipeline reached 96 percent and 83 percent completion, respectively, with upstream pipelines fully operational.

NNPC emphasized its focus on sustaining crude and condensate production, improving the reliability of production facilities, and enhancing stakeholder collaboration and operational efficiency. To accelerate pipeline completion, additional subcontractors were deployed to the AKK project, while a revised execution plan was implemented for the OB3 River Niger Crossing.

A 113 km section of the OB3 pipeline is already operational, supplying around 300 million standard cubic feet per day (mmscf/d) of gas from producers including AHL, Platform, Chorus, and Xenergi.

From January to June 2025, statutory payments by NNPC totaled N7.97 trillion, reflecting the company’s continued financial contributions despite the sharp drop in profit.