NNPC Posts ₦509 Billion September Profit as Revenue Hits ₦4.61 Trillion

• NNPC reported ₦509 billion in profit after tax for September 2026, alongside ₦4.61 trillion in revenue and a modest increase in oil and gas production.

The Nigerian National Petroleum Company Limited (NNPC) has reported a profit after tax of ₦509 billion for September 2026, with revenue reaching ₦4.608 trillion.

The figures appear in the company’s September Monthly Report Summary, released on November 3.

NNPC also reported statutory payments of ₦11.14 trillion between January and September. These payments cover the nine-month period, while the revenue and profit figures relate to September alone.

Total hydrocarbon production averaged 3.04 million barrels of oil equivalent per day, compared with 3.01 million in August. This measure combines crude oil, condensate and natural gas expressed in equivalent energy units.

Crude oil and condensate production stood at approximately 1.70 million barrels per day, while natural gas output averaged 7.789 billion standard cubic feet daily.

NNPC stated that its production, sales and financial figures remained provisional and subject to reconciliation with relevant stakeholders.

The company attributed the production improvement largely to the restart of the Obodo field in Oil Mining Lease 150 and the restoration of output from other assets.

However, operational difficulties continued to limit production. These included equipment failures, flowline leaks, subsurface problems, community protests and unplanned shutdowns.

Storage limitations and disruptions to export infrastructure also affected operations.

To address these challenges, NNPC outlined plans to restore shut-in wells, improve maintenance, undertake well interventions and strengthen engagement with host communities. It also identified the need to resolve storage and export constraints to sustain production gains.

On gas infrastructure, NNPC reported that the River Niger crossing of the Obiafu–Obrikom–Oben pipeline had been commissioned and brought into operation.

The company also said construction and pre-commissioning work on the Ajaokuta–Kaduna–Kano pipeline was continuing towards its target of early gas delivery to Abuja in 2026.