NNPCL revenue drops to N4.26trn as PAT declines by 40% in September

The Nigerian National Petroleum Company Limited, NNPCL, has announced a profit after tax, PAT, of N216 billion from a total revenue of N4.26 trillion in September 2025.

The total revenue represents a decline from the N4.654 trillion recorded in August 2025.

The state-owned oil firm disclosed this on Tuesday in its monthly financial report.

According to the NNPCL, its PAT dropped by 40 per cent to N216 billion in September, down from N539 billion recorded in August.

The firm noted that from January to August 2025, it made N10.073 trillion in statutory payments to the Federation Account.

The development comes as the NNPCL stated that the country’s crude oil and condensate production for the month stood at 1.61 million barrels per day, mmbpd. Of this total, crude oil production was 1.37 mmbpd, a slight decrease from 1.38 mmbpd recorded in August, while total condensate production was 0.24 mmbpd, down from 0.26 mmbpd in August.

Also, natural gas production stood at 6,284 million standard cubic feet per day, mmscfd, while sales were 3,443 mmscfd in September — a decrease from 4,201 mmscfd in August.

According to the NNPCL, petrol availability at its retail outlets stood at 77 per cent, while upstream pipeline availability was 96 per cent.

The report also indicated that the company made statutory payments to the government totalling N10.073 trillion from January to August.

It added that production levels during the period were temporarily moderated due to planned maintenance activities, including those at NLNG, alongside the phased recovery of previously shut-in assets and delays in the commencement of operations at OMLs 71 and 72.

The company further noted that substantial progress had been recorded on the Ajaokuta–Kaduna–Kano, AKK, Gas Pipeline, which has reached 88 per cent completion.

Additionally, the Obiafu–Obrikom–Oben, OB3 Gas Pipeline project stood at 96 per cent completion.