NNPC Posts N509bn Profit as Revenue Hits N4.61trn in September 2026

By Adedapo Adesanya

The Nigerian National Petroleum Company (NNPC) Limited recorded revenue of N4.61 trillion and profit after tax of N509 billion in September 2026, as total hydrocarbon production rose to 3.04 million barrels of oil equivalent per day.

According to the company’s September 2026 Monthly Report Summary, crude oil and condensate production stood at 1.70 million barrels per day, while natural gas production reached 7,789 million standard cubic feet per day.

The report also showed that upstream pipeline availability was 100 per cent during the review month, while petrol availability across NNPC Retail Limited (NRL) stations stood at 54 per cent.

Total hydrocarbon production increased from 3.01 million barrels of oil equivalent per day in August to 3.04 million barrels of oil equivalent per day in September.

The state oil company attributed the improvement largely to the restart of the Obodo field in Oil Mining Lease (OML) 150 and production restoration across other assets.

Crude oil and condensate output reached 1.70 million barrels per day, while natural gas production eased slightly to 7,789 million standard cubic feet per day from 7,841 million standard cubic feet per day in August.

The company also reported that statutory payments between January and September 2026 amounted to N11.14 trillion. This refers to payments the NNPC is legally required to make to the government or designated public institutions under existing laws and regulations.

Also, gas sales averaged 4,793 million standard cubic feet per day, compared with 4,737 million standard cubic feet per day in August.

Crude oil and condensate sales totalled 24.63 million barrels in September.

The production increase came alongside a slight decline in gas output and sales, indicating differing movements across the company’s hydrocarbon operations during the month.

Despite the increase in production, NNPC identified several operational and infrastructure challenges affecting output. These included unplanned downtime arising from facility reliability problems, subsurface issues, flowline leaks, community protests and equipment failures.

Storage and tank-top limitations, alongside disruptions to export infrastructure, also affected production.

To address these constraints, the company said it was working to restore shut-in wells and facilities, optimise production and carry out well interventions. Its plans also include preventive maintenance to improve facility reliability, resolving subsurface and flowline integrity issues, strengthening community engagement and addressing storage and export infrastructure limitations.

These measures are intended to sustain production growth and reduce disruptions across its assets.

The company’s financial performance in September follows the strong revenue and profit figures reported in the preceding months. In the last eight months, covering January through August 2026, NNPC generated N28.54 trillion in revenue and recorded N2.99 trillion in profit after tax.

Its 2025 audited financial statements also showed that the state oil firm booked a Profit after Tax of N5.760 trillion after generating N60.517 trillion in revenue in 2025.