NNPC Sees Revenue Surge to N4.65tn in August Despite Production Drop

The Nigerian National Petroleum Company Limited (NNPCL)’s cumulative revenue has reached N4.655 as of August 2025, up from N4.406 trillion recorded in July, even as crude oil and natural gas production dropped due to scheduled maintenance.

The company’s monthly reports obtained by Economic Confidential Online on Friday showed that profit after tax rebounded to N539bn in August, compared to N185bn in July.

According to the report, statutory payments to the government also increased from N7.96tn in the first half of the year to N8.86tn by the end of July.

Operational data indicated that crude oil and condensate production fell to an average of 1.65 million barrels per day in August from 1.7 million barrels per day in July.

Natural gas output dropped to 6,949 million standard cubic feet per day from 7,722 million standard cubic feet per day.

The report showed that crude oil and condensate sales declined to 22.37 million barrels in August from 25.49 million barrels the previous month, while gas sales eased to 4,201 million standard cubic feet per day from 4,978 million standard cubic feet per day in the month before.

The company attributed the reduction in output to the turnaround maintenance carried out on some upstream facilities in line with Nigeria LNG’s maintenance schedule.

On infrastructure, the Ajaokuta–Kaduna–Kano pipeline reportedly progressed from 83 per cent completion in July to 84 per cent in August.

The Obiafu–Obrikom–Oben pipeline remained in service, with 113 kilometres already commissioned and about 300 million standard cubic feet per day of gas flowing from producers including AHL (250 mmscf) as well as Platform, Chorus and Xenergi (50 mmscf).

In the downstream, the wetness level at NNPC retail stations improved from 70 per cent in July to 76 per cent in August.

The report also detailed social responsibility programmes, with 60,231 members of the National Youth Service Corps trained in financial literacy in August, bringing the total number of trained corps members to 930,614.

The company also sponsored the Code4Privacy Hackathon organised with the Nigeria Data Protection Commission, in which 141 young Nigerians participated.

There was no update on the refineries, which the NNPC earlier said were under review.