The Nigerian National Petroleum Company Limited (NNPC Ltd) reported a staggering ₦4.26 trillion in revenue for the month of August 2025, according to its recently released performance report for September. This figure marks one of the highest single-month revenues for the state-owned oil company this year.
Between January and August 2025, NNPC said it had remitted a total of ₦10.073 trillion to the Federation Account. The remittance covers income from crude oil and condensate sales, gas revenue, royalty payments, taxes, and other statutory transfers owed to the federal government. The August figure alone represented an increase of approximately ₦1.21 trillion over the remittances recorded in July, bringing the cumulative remittance from January to July to ₦8.86 trillion.
On the production side, crude oil and condensate output saw a slight decline in September, averaging 1.61 million barrels per day (bpd), down from 1.65 million bpd in August. This figure also reflects a 2.9 percent drop compared to the 1.70 million bpd posted in July. Production levels during the reporting period ranged from 1.56 to 1.69 million bpd, inclusive of condensates.
Although output was below Nigeria’s technical production capacity, the volume was sufficient to maintain healthy revenue inflows into government coffers. The decline in production was attributed to scheduled maintenance at key infrastructure, including the Nigeria LNG facility, and delays in restarting operations at several oil mining leases.
Despite the strong revenue numbers, NNPC’s profit after tax took a hit in September, falling to ₦216 billion. This represents a sharp decline of ₦323 billion from the ₦539 billion recorded in August. However, the September profit still reflects an improvement over July’s ₦185 billion. Comparatively, June and May had seen significantly higher profits of ₦905 billion and ₦1.054 trillion respectively.
On the gas front, NNPC reported an average daily production of 6.28 billion standard cubic feet per day in September. A significant portion of this was commercialised for both domestic consumption and exports, contributing positively to overall earnings.
The company credited its continued revenue performance to steady oil and gas production, improved product supply, and enhanced operational efficiencies across its assets.
About the Author
