NNPC Remits N6.2 Trillion to FG in First Half of 2026

The Nigerian National Petroleum Corporation (NNPC) reported payments of N6.286 trillion to the Federal Government between January and June 2026, which represents approximately 42.7% of the N14.706 trillion remitted throughout 2025. If this trend continues, total payments for the year may not surpass last year's record.

In June, NNPC generated N4.389 trillion in revenue and recorded a profit after tax of N535 billion, a 15.8% increase from May's N462 billion. The report indicated a slight decline in crude oil and condensate production to 1.72 million barrels per day due to operational disruptions.

NNPC is advancing two major gas infrastructure projects: the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, which is 98% complete, and the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, at 94% completion. Prof. Dayo Ayoade noted that regulatory reforms could positively impact future remittances.