NNPC Remits N10 Trillion to Federation, Records N4.2 Trillion Revenue in August

The Nigerian National Petroleum Corporation (NNPC) remitted over N10 trillion to the Federation Account from January to August 2025, with a revenue of N4.2 trillion in August alone. The company's profit declined by N323 billion month-on-month due to persistent product constraints, despite fiscal gains.

NNPC attributed the profit decline to lower crude oil and gas output, stronger product availability, and improved operational efficiency. Nigeria's crude oil production averaged 1.61 million barrels per day in September, a 2.9% decrease from August.