The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted ₦7.913 trillion to the Federation Account between January and July 2026, highlighting the continued importance of the petroleum sector to government revenues….
The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted ₦7.913 trillion to the Federation Account between January and July 2026, highlighting the continued importance of the petroleum sector to government revenues.
According to NNPC’s July 2026 Monthly Report Summary, the company generated ₦3.087 trillion in revenue in July and recorded a profit after tax of ₦279 billion.
NNPC said crude oil and condensate production averaged 1.68 million barrels per day (bpd) during the month, while natural gas production stood at 7.489 billion standard cubic feet per day.
The company also reported progress on major gas infrastructure projects, with the Obiafu-Obrikom-Oben (OB3) gas pipeline reaching 100 per cent completion and the Ajaokuta-Kaduna-Kano (AKK) pipeline reaching 95 per cent.
Upstream pipeline availability also reached 100 per cent during the month.
NNPC said production improvement efforts remained focused on maintaining high facility uptime through preventive maintenance and reducing unplanned downtime.
The company also highlighted measures to optimise export operations, develop incremental production opportunities and improve operational reliability across its portfolio.
These include tandem offloading operations at the Akpo and Erha fields to improve export flexibility, as well as the restoration of barging operations at Obodo to support production evacuation.
The ₦7.913 trillion remitted to the Federation Account represents a significant source of revenue for the Federal Government, states and local governments.
NNPC, however, stressed that its July revenue figure should not be confused with its statutory remittances to the Federation Account.
While the ₦3.087 trillion represents revenue generated by the company during July, the ₦7.913 trillion covers cumulative remittances between January and July.
NNPC said all production, sales and financial figures contained in the July report were provisional and subject to reconciliation with relevant stakeholders.
The latest figures come amid Federal Government efforts to boost crude oil production, improve operational efficiency, strengthen gas infrastructure and attract fresh investment into Nigeria’s petroleum industry.
