Oil
NNPC reports N431bn profit after tax for August
The Nigerian National Petroleum Company Limited recorded a significant rise in profit and revenue alongside higher statutory payments.
Key points
- Profit after tax rose by 54.5 per cent to N431 billion in August.
- Monthly revenue reached N3.74 trillion, up from N3.09 trillion in July.
- Crude oil production averaged 1.69 million barrels per day.
Financial performance
According to Premium Times, the Nigerian National Petroleum Company Limited (NNPC Ltd.) posted a profit after tax of N431 billion in August 2026. This figure represents a 54.5 per cent increase compared to the N279 billion recorded previously.
Total revenue for the month reached N3.74 trillion, showing growth from the N3.09 trillion reported in July. Cumulative statutory payments also increased by 19.89 per cent, moving from N7.91 trillion for the period between January and July to N9.49 trillion by August.
Production and infrastructure
Operational figures from the company's monthly report put average crude oil production at 1.69 million barrels per day. Gas production averaged 7,680 million standard cubic feet per day.
Regarding infrastructure development, upstream pipelines achieved full availability. The OB3 and Ajaokuta-Kaduna-Kano (AKK) gas pipelines reached 100 per cent and 95 per cent completion rates respectively, according to the report.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
85.9% of Nigeria’s merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
