 Limited, weekend, reported stable production and solid financial performance.){kind=link}
NNPC Remits N11.15trn to FG in Nine Months
The Nigerian National Petroleum Corporation (NNPC) Limited, weekend, reported stable production and solid financial performance in its October 2025 monthly report, with statutory payments totaling N11.15 trillion to the government for the nine months ending September 2025.
Latest report obtained from NNPC’s official X handle noted that the figure underscores the national oil company’s significant contribution to national revenue.
According to the report, in October 2025, NNPC’s crude oil condensate production was 1.58 million barrels per day (mmbopd), slightly below the peak of 1.77mmbopd recorded earlier in the year.
Natural gas production was 6,997 million standard cubic feet per day (mmscfd). The moderate production levels were due to planned maintenance at key assets like Usan and SEPNU, delayed operations at WAEP OML 71 and 72, and flooding that caused well shut-ins at OML 143.
Despite these, upstream pipeline availability was maintained at 100%, with full production recovery targeted for mid-December 2025.
NNPC reported revenues of N5.078 trillion and a profit after tax of N447 billion for October 2025. For the nine months ending September, statutory payments to the government amounted to N11.15 trillion, reflecting the company’s continuous support of government finances through taxes and other financial obligations.
These figures include intercompany transactions and consolidated adjustments representing the overall financial health of the group.
Major gas infrastructure projects are advancing with urgency as the Ajaokuta-Kaduna-Kano (AKK) gas pipeline is reportedly being fast-tracked with added resources to ensure mainline completion by the end of 2025.
The Obiafu-Obrikom-Oben (OB3) gas pipeline project is progressing with preparatory work for the Niger River crossing and drilling activities, following revised execution plans.
Additionally, NNPC’s social initiatives continue with the NNPC Foundation’s financial literacy programme, which has empowered over one million NYSC corps members nationwide.
The initiative reflects NNPC’s commitment to youth empowerment and entrepreneurship development across Nigeria.
Separately, OPEC+ is expected to maintain its oil output policy with no changes in early 2026 and is working on a mechanism to assess production capacity among members.
Meanwhile, Eni has agreed to acquire a 50% stake and operatorship in Uruguay’s offshore Block OFF-5 from YPF, marking a strategic expansion into frontier deepwater exploration in the South Atlantic, pending regulatory approval.
The report highlights NNPC’s balanced approach in managing production challenges, advancing pivotal infrastructure projects, contributing significantly to fiscal revenues, and fostering socio-economic development.