By Kelechi Onwujuba
The Nigerian National Petroleum Company (NNPC) Limited has recorded a revenue of N4.608 trillion and a Profit After Tax (PAT) of N509 billion in September 2026, reflecting an improvement in its financial performance compared with the preceding month.
The figures were contained in the company's September 2026 Monthly Report Summary, released on November 3, 2026, which also highlighted developments in crude oil and condensate production, natural gas output, sales, infrastructure projects and strategic interventions across its operations.
According to the report, total hydrocarbon production increased to 3.04 million barrels of oil equivalent per day (mmboe/d) in September, compared with 3.01 million barrels of oil equivalent per day recorded in August. Crude oil and condensate production averaged 1.70 million barrels per day, up from 1.69 million barrels per day in the previous month.
•NNPC GCEO, Bayo Ojulari
Natural gas production stood at 7,789 million standard cubic feet per day (mmscf/d), compared with 7,680 mmscf/d in August. Gas sales also increased to 4,793 mmscf/d from 4,737 mmscf/d in the preceding month. Meanwhile, NNPC recorded crude oil and condensate sales of 24.63 million barrels, comprising 23.64 million barrels of crude oil and 990,000 barrels of condensate.
On its financial obligations to the government, the company reported cumulative statutory payments of N11.14 trillion to the Federation Account between January and September 2026. The September revenue of N4.608 trillion also represented an increase from the approximately N3.74 trillion recorded in August, while profit after tax rose from N431 billion to N509 billion.
On infrastructure development, NNPC disclosed that the Obiafu-Obrikom-Oben (OB3) gas pipeline had reached 100 per cent completion, following the commissioning and operationalisation of its River Niger crossing. The Ajaokuta-Kaduna-Kano (AKK) gas pipeline also attained 95 per cent completion, with the company sustaining collaboration with relevant stakeholders to accelerate construction and pre-commissioning activities towards achieving early gas delivery to Abuja in 2026.
The report further indicated that upstream pipeline availability stood at 100 per cent during the review period, while petrol availability at NNPC Retail Limited (NRL) stations nationwide was 54 per cent. The company said it was pursuing measures to sustain production growth through the accelerated restoration of shut-in wells and facilities, production optimisation and well intervention programmes.
However, NNPC acknowledged that production activities remained affected by several operational challenges, including unplanned facility downtime, subsurface issues, flowline leaks, community protests, equipment failures, storage and tank-top limitations, as well as disruptions to export infrastructure. It said efforts were ongoing to strengthen facility reliability, improve preventive maintenance, address infrastructure constraints and enhance community engagement to minimise production losses and sustain output growth.
Beyond its core oil and gas operations, the company also highlighted its stakeholder engagement and social investment activities. In September, the NNPC Foundation received a courtesy visit from the Sokoto State Commissioner for Health, who presented a letter of appreciation to the Foundation for donating the Infectious Diseases Hospital and subsequently handing it over to the Sokoto State Government.
NNPC noted that the September production, sales and financial figures were provisional and subject to reconciliation with relevant stakeholders. The latest report provides an update on the company's operational and financial performance, while highlighting ongoing efforts to improve hydrocarbon production, strengthen gas infrastructure, address operational bottlenecks and support Nigeria's energy security.
