By NGOBUA JOHNNIE, Abuja
The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted a total of N7.91 trillion to the Federation Account between January and July 2026, despite a decline in crude oil and condensate production in July.
The figure was contained in the company’s July 2026 operational and financial performance report released on Wednesday September 2.
NNPC reported revenue of N3.09 trillion and profit after tax of N279 billion during the period under review.
However, crude oil and condensate production declined from 1.73 million barrels per day in May to 1.72 million barrels per day in June and further to 1.68 million barrels per day in July.
The company attributed the July decline to operational challenges affecting several oil-producing assets.
It said the challenges included facility outages, equipment unavailability, pipeline incidents and other production constraints.
The decline in production was also reflected in crude oil and condensate sales, which fell to 22.53 million barrels in July from 28.23 million barrels in June.
The July sales comprised 21.53 million barrels of crude oil and one million barrels of condensate.
NNPC said it had begun measures to reverse the production decline and improve operational efficiency across its facilities.
According to the company, the measures include preventive maintenance to sustain facility uptime, reduction of unplanned downtime, optimisation of export operations and development of incremental production opportunities.
It also disclosed plans to strengthen operational reliability across key facilities, activate tandem offloading operations at Akpo and Erha, and restore barging operations at Obodo to improve production evacuation.
On gas infrastructure, NNPC reported 100 per cent availability of its upstream pipeline network. The company said pre-commissioning activities had been completed on the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline, with first gas initially targeted for August 2026.
It added that construction and installation works on the Ajaokuta-Kaduna-Kano gas pipeline had reached an advanced stage, with efforts ongoing to facilitate early gas delivery to Abuja in 2026.
NNPC put the availability of the AKK pipeline at 95 per cent, while the availability of NNPC Retail’s petrol stations stood at 52 per cent, with variations across regions.
The company said natural gas production stood at 7.49 billion standard cubic feet per day, while gas sales were 4.6 billion standard cubic feet per day.
NNPC, however, noted that the production, sales and financial figures contained in the report were provisional and subject to reconciliation with relevant stakeholders.
