The Nigerian National Petroleum Company Limited (NNPCL) has remitted N10.07 trillion to the Federation Account between January and August 2025, marking a record transfer within an eight-month period.
According to the company’s September 2025 monthly report, the amount represents statutory payments backed by improved production, higher crude prices, and stronger gas sales.
NNPCL also recorded N4.27 trillion in group revenue and N216 billion in profit after tax for the same period, based on provisional data adjusted for cost of sales and income tax.
Average crude oil and condensate production stood at 1.61 million barrels per day (bpd) in September, slightly below August’s 1.64 million bpd. Output earlier peaked at 1.77 million bpd before moderating due to maintenance at the Nigeria LNG plant and delayed start-ups at Oil Mining Leases 71 and 72.
The report attributed production stability to industry-wide collaboration and recovery initiatives, despite ongoing challenges in curbing theft and vandalism across the Niger Delta.
Natural gas output averaged 6.28 billion standard cubic feet per day in September, down from 6.95 billion in August, reflecting temporary maintenance activities. Progress continues on key infrastructure projects, with the Ajaokuta–Kaduna–Kano (AKK) gas pipeline at 88 per cent completion and the Obiafu–Obrikom–Oben (OB3) line advancing steadily.
NNPCL said improved coordination with the military and local surveillance groups raised pipeline uptime to 96 per cent in September, reducing sabotage and leak-related losses.
Brent crude averaged $65 per barrel in the third quarter, while sustained upstream recovery offset weaker refining margins.
Analysts project total NNPCL remittances could exceed N15 trillion by year-end, strengthening government revenue and foreign reserves.
