The Nigerian National Petroleum Company Limited (NNPC) remitted N7.91tn to the Federation Account between January and July 2026, despite a decline in crude oil and condensate production in July.
According to NNPC’s July 2026 operational and financial performance report released on Wednesday, the company generated N3.09tn in revenue and recorded N279bn in profit after tax during the period.
However, crude oil and condensate production fell from 1.73 million barrels per day in May to 1.72 million barrels per day in June, before dropping further to 1.68 million barrels per day in July.
NNPC attributed the July decline to operational challenges across several assets, including facility outages, equipment shortages, pipeline incidents and other production constraints.
The company also reported that crude oil and condensate sales declined to 22.53 million barrels in July, compared with 28.23 million barrels in June.
NNPC said it was implementing measures to increase production and reduce unplanned downtime. These include preventive maintenance, improved export operations and the development of additional production opportunities.
The company also disclosed that its upstream gas pipeline network recorded 100 per cent availability, while construction and installation work on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline was at an advanced stage.
Natural gas production stood at 7.49 billion standard cubic feet per day, while gas sales were recorded at 4.6 billion standard cubic feet per day.
NNPC cautioned that all production, sales and financial figures remained provisional and were subject to reconciliation with relevant stakeholders.
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