July 2026: NNPC Suffers 29.7% Shrink in Revenue, 47.9% Drop in Profit

By Dipo Olowookere

The Monthly Report Summary of the Nigerian National Petroleum Company (NNPC) Limited for July 2026 has revealed that revenue for the period under review contracted by 29.7 per cent to N3.087 trillion from the N4.389 trillion recorded in June 2026 due to a drop in the production and sales of crude oil and natural gas.

Analysis of the report by Business Post showed that Crude Oil and Condensate Production for July 2026 shrank to 1.68 million barrels per day from 1.72 million barrels per day, while Natural Gas production receded to 7,489 million standard cubic feet per day from 7,841 million standard cubic feet per day in June 2026.

It was also observed that the net profit for the month moderated by 49.7 per cent to N279 billion from N535 billion in the preceding month.

However, NNPC delivered N7.913 trillion in cumulative statutory payments from January to July 2026, higher than the N6.286 trillion achieved in the same period of last year, reflecting a month-on-month addition of N1.627 trillion.

Similarly, upstream pipeline availability was sustained at 100 per cent for the second consecutive month.

In the period under review, the NNPC Foundation and NYSC reaffirmed their partnership to enhance youth entrepreneurship through the NYSC SAED programme.

Since 2023, the foundation has provided financial literacy empowerment to over 1.3 million corps members and supported 531 beneficiaries with start-up packs and business grants.

The partnership aims to strengthen entrepreneurial development through financial literacy empowerment, enhanced enterprise support, and improved impact on youth engagement, leveraging digital innovation and data-driven impact measurement to equip corps members as job creators and future business leaders.