NNPC Limited MD, Bayo Ojulari
Nigerian National Petroleum Company (NNPC) Limited recorded a strong financial performance in August 2026, posting a Profit After Tax (PAT) of ₦431 billion, representing a 54.5 per cent increase from the ₦279 billion recorded in July.
The impressive performance was contained in the company’s monthly operations and financial report for August 2026, which also showed growth in revenue, statutory payments and crude oil production during the period.
According to the report, NNPC generated ₦3.74 trillion in revenue in August, up from ₦3.09 trillion recorded in the previous month, reflecting improved earnings across its operations.
The company also reported a significant rise in its cumulative statutory payments to the Federation. The figure increased by 19.89 per cent from ₦7.91 trillion recorded between January and July to ₦9.49 trillion for the January to August period.
On the operational side, the report showed that average crude oil production stood at 1.69 million barrels per day, while average gas production reached 7,680 million standard cubic feet per day during the month under review.
NNPC further disclosed that its upstream pipeline network recorded 100 per cent availability, indicating uninterrupted operations across critical production assets.
The report also highlighted continued progress on key national gas infrastructure projects. It stated that the Obiafu-Obrikom-Oben (OB3) Gas Pipeline had reached 100 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project was 95 per cent completed.
The latest financial results come as NNPC continues to reposition itself as a fully commercial national energy company following the implementation of the Petroleum Industry Act (PIA), with greater emphasis on profitability, operational efficiency and value creation.
The company has repeatedly maintained that improved financial performance, increased production and sustained investments in critical infrastructure are essential to strengthening Nigeria’s energy security, boosting government revenues and supporting long-term economic growth.
The August report suggests that NNPC sustained the positive momentum recorded in recent months, with higher profits, stronger revenues and steady progress on strategic infrastructure expected to improve gas supply and support industrial development across the country.
