…Statutory payments to the federal account hit N9.49trn
The Nigerian National Petroleum Company (NNPC) Limited has reported a remarkable financial performance for August 2026, with profit after tax surging by 54.5% from N279 billion to N431 billion for the month of August 2026.
The company, according to its monthly operations and financial report for the month of August 2026, generated revenue of N3.74 trillion as against N3.09 trillion recorded in the previous month.
The report showed a slight increase in the volume of crude oil sold in the period, rising from 21.53 MMbbls in July to 23.57 MMbbls in August 2026.
On the production side, the report showed that the average crude oil and gas production figures for the period stood at 1.69 million barrels per day and 7,680 million standard cubic feet per day, respectively.
The company noted its effort to sustain reliable crude Oil evacuation, minimising production deferments and strengthening asset reliability through proactive maintenance.
It also stated that it had “improved coordination of drilling and shutdown activities, restore deferred production, optimised tank-top and export management, and strengthened asset-level production assurance and
accountability.”
The Company also recorded a 19.89% increase in cumulative statutory payments from N7.91trillion for January to July to N9.49trillion for January to August.
On the state of infrastructure, the report indicated 100% availability of upstream pipelines, while the Obiafu-Obrikom-Oben (OB3) and Ajaokuta-Kaduna-Kano (AKK) Gas Pipelines stood at 100% and 95% completion, respectively.
“On AKK (Early Gas), continued collaboration with stakeholders to progress construction and installation activities geared towards delivery of gas to Abuja in 2026.
“OB3 River Niger Crossing: Significant milestone attained with the successful commissioning and full operationalisation of the OB3 pipeline thus realising the project strategic intent of linking the Eastern and Western gas network,” the report added.
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