NNPCL Reports N9.48 Trillion Remittance and Production Growth

The Nigerian National Petroleum Company Limited (NNPCL) reported a total revenue of N3.73 trillion and remitted N9.48 trillion to the federation account as statutory payments from January to August. Oil and condensate production increased to 1.69 million barrels per day from 1.68 million barrels in July.

Natural gas production reached 7.68 million Standard Cubic Feet per Day. NNPCL attributed the production increase to reliable crude oil evacuation, minimizing production deferments, proactive maintenance, and improved coordination of drilling activities.

The Ajaokuta-Kaduna-Kano Pipeline is currently 55 percent completed, with ongoing collaboration with stakeholders to ensure gas delivery to Abuja in 2026. The Obiafu-Obrikom-Oben (OB3) Gas Pipeline has been fully completed and operationalized, successfully linking the Eastern and Western gas network systems.

Additionally, NNPC Foundation's Youth Empowerment Initiative trained 73,217 NYSC Corps Members in financial literacy, bringing the total trained under the initiative to 1,398,401.