The Nigerian National Petroleum Company Limited transferred N7.91tn to the Federation Account between January and July 2026, despite its crude oil and condensate output dropping to 1.68 million barrels daily in July.
The metrics were detailed in the NNPC’s July 2026 operational and financial performance report published on Wednesday.
The enterprise disclosed that it generated N3.09tn in earnings alongside N279bn in net earnings throughout the timeframe under evaluation.
Nonetheless, crude oil and condensate output dropped from 1.73 million barrels daily in May to 1.72 million barrels daily in June, slumping further to 1.68 million barrels daily in July. NNPC linked the July drop to operational disruptions across several assets.
“July crude oil production was affected by a combination of operational disruptions across several assets, including facility outages, equipment unavailability, pipeline incidents, and production constraints,” the enterprise noted.
The drop in yield was also reflected in reduced crude oil and condensate volume sales, which totalled 22.53 million barrels in July, consisting of 21.53 million barrels of crude and one million barrels of condensate, down from 28.23 million barrels in June. The state oil firm noted it was instituting strategies to counter the reduction and bolster output.
“Production improvement efforts will focus on sustaining high facility uptime through effective preventive maintenance programmes and minimizing unplanned downtime,” NNPC stated. It affirmed that the initiatives would encompass streamlining export activities at FEPL and Nembe EP, unlocking supplemental production avenues, and reinforcing operational reliability across primary facilities.
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“Additional measures include the activation of tandem offloading operations at Akpo and Erha to enhance export flexibility and the restoration of barging operations at Obodo to improve production evacuation and sustain output,” the enterprise included.
Regarding gas infrastructure, NNPC confirmed 100 percent operational status across its upstream transport grid.
It also highlighted that pre-commissioning work had concluded on the River Niger Crossing stretch of the Obiafu-Obrikom-Oben gas pipeline, aiming for initial gas distribution in August 2026.
For the Ajaokuta-Kaduna-Kano gas pipeline, NNPC indicated that build and installation projects were nearing completion to enable prompt gas supply to Abuja in 2026.
The enterprise placed AKK pipeline operational capacity at 95 percent, while NNPC Retail’s filling stations logged 52 percent availability, with supply varying by territory.
NNPC further revealed that natural gas output reached 7.49 billion standard cubic feet daily, while gas sales hit 4.6bscf/d.
The firm advised that the published metrics remain subject to audit and adjustment. “All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” it stated.
