The Nigerian National Petroleum Company Limited (NNPCL) remitted N7.91trillion into the federation account between January and July 2026, despite a decline in crude oil and condensate production during the period.
The figure was disclosed in the company’s July 2026 operational and financial performance report released on Wednesday.
NNPCL also reported N3.09tn in revenue and N279bn in profit after tax during the seven-month period.
However, crude oil and condensate production dropped to 1.68 million barrels per day in July, down from 1.73 million barrels per day in May and 1.72 million barrels per day recorded in June.
The company attributed the latest decline to a combination of operational challenges affecting several production assets.
According to the NNPCL, facility outages, equipment shortages, pipeline incidents and other production constraints contributed to the reduction in output.
The fall in production was accompanied by a decline in crude oil and condensate sales. Total sales stood at 22.53 million barrels in July, consisting of 21.53 million barrels of crude oil and one million barrels of condensate.
This represented a decline from the 28.23 million barrels sold in June.
NNPCL said it had begun implementing measures aimed at restoring production levels and improving the reliability of its operations.
The company said it would prioritise preventive maintenance and efforts to keep facilities operating at optimal capacity while reducing unplanned downtime.
It also plans to optimise export operations at FEPL and Nembe EP, pursue additional production opportunities and improve reliability across major facilities.
Other measures include the introduction of tandem offloading operations at Akpo and Erha to provide greater flexibility in crude exports.
NNPCL said barging operations at Obodo would also be restored to improve the evacuation of production and support higher output.
On its gas infrastructure, the company reported that its upstream pipeline network recorded 100 per cent availability.
NNPCL added that pre-commissioning work had been completed on the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline, with first gas delivery initially scheduled for August 2026.
Construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline were also said to be at an advanced stage, with the project expected to support early gas supply to Abuja in 2026.
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The company reported AKK pipeline availability at 95 per cent.
Meanwhile, NNPCL retail’s petrol stations recorded 52 per cent availability, although the level of product availability varied across different regions.
Natural gas production averaged 7.49 billion standard cubic feet per day during the period, while gas sales stood at 4.6 billion standard cubic feet per day.
NNPCL, however, cautioned that the figures contained in the report were provisional and could change following reconciliation with relevant stakeholders.
The company stressed that all production, sales and financial figures remained subject to reconciliation.
