NNPC Reports N4.61 Trillion Revenue and N509 Billion Profit

In September 2026, the Nigerian National Petroleum Company (NNPC) Limited recorded a revenue of N4.61 trillion and a profit after tax of N509 billion. Total hydrocarbon production rose to 3.04 million barrels of oil equivalent per day, with crude oil and condensate production at 1.70 million barrels per day and natural gas production at 7,789 million standard cubic feet per day.

The increase in total hydrocarbon production from 3.01 million mmboe/d in August was attributed to the restart of the Obodo field in Oil Mining Lease 150 and production restoration across other assets. Despite the production increase, NNPC faced operational challenges, including unplanned downtime, subsurface issues, flowline leaks, community protests, and equipment failures.

The company is working on restoring shut-in wells, optimizing production, and conducting preventive maintenance to enhance facility reliability. Additionally, NNPC is considering selling 5% to 10% of its equity through a potential initial public offering, focusing on Nigeria's domestic capital market.