ABUJA, NIGERIA — The Nigerian National Petroleum Company Limited (NNPCL) remitted a cumulative ₦7.91 trillion to the Federation Account between January and July 2026.
The figures were disclosed in NNPCL’s July 2026 Operational and Financial Performance Report released on Wednesday, September 2, 2026. The performance report highlighted strong single-month revenues alongside a slight drop in total crude oil and condensate output due to operational outages across upstream assets.
Core Highlights of the July Financial & Operational Report
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Financial Remittances: Cumulative statutory payments to the Federation Account reached ₦7.913 trillion for the first seven months of 2026. For July alone, NNPCL posted ₦3.09 trillion in gross revenue and a Profit After Tax (PAT) of ₦279 billion.
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Crude Output Slippage: Total crude oil and condensate production contracted to 1.68 million barrels per day (mbpd) in July, declining from 1.73 mbpd in May and 1.72 mbpd in June.
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Factors Behind Output Dip: NNPCL attributed the July decline to facility outages, equipment unavailability, pipeline incidents, and production evacuation constraints across key operational assets.
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Crude Sales Volume: Total crude oil and condensate sales stood at 22.53 million barrels in July (21.53m crude / 1.0m condensate), compared to 28.23 million barrels recorded in June.
