Statutory remittance of the Nigerian National Petroleum Company Limited (NNPC) to the federal government slipped marginally to N11.14 trillion between January to September of 2026, down from N11.15 trillion in the corresponding period of a year ago.
BusinessDay analysis of the company’s monthly report summary shows that statutory remittance from January to September of this year is only slightly lower than its value remitted to the Nigerian government within the same period of a year ago.
However, production of crude and condensate widened from their value a year ago. According to the report, crude and condensate production in 2026 grew to 1.70 million barrels per day, up from 1.61 million barrels per day between January to September 2025.
Total revenue continued the winning streak, posing an 8 percent rise to N4.61 trillion between January to September 2026, up from N4.27 in the same period of 2025.
Similarly, production of natural gas also increased. Findings show that Nigeria’s natural gas production grew from 6.23 million standard cubic feet per day a year ago to 7.79 million standard cubic feet per day.
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On the Ajaokuta-Kaduna-Kano gas pipeline, the company said, “advance mainline construction, installation, and pre-commissioning activities to ensure early gas delivery to Abuja in 2026.”
The company’s profit after tax also rose to N509 trillion, a whooping 135 percent jump in profit compared to N216 trillion posted within the same period of last year.
Additionally, petrol availability across NNPC’s retail filling stations in the country fell to 54 percent within the review period, down from an average of 77 percent availability last year. Upstream availability also performed better in 2026, reaching an optimal level of 100 percent within nine months of 2026, from about 96 percent a year ago.
Some of NNPC’s strategic efforts include, sustenance of production growth through accelerated restoration of shut-in wells and facilities, production optimisation and well interventions.
Others are: “Strengthen facility reliability and preventive maintenance, address subsurface and flowline integrity issues, enhance community engagement, and resolve storage, tank-top, and export infrastructure constraints to minimise deferments and sustain production gains.”
On updates on Obiafu-Obrikom-Oben (OB3) Gas Pipeline, the company noted that an OB3 pipeline in River Niger crossing has been “commissioned and operationalised.”
Feyishola Jaiyesimi is a writer and storyteller. She currently writes for the energy desk at BusinessDay with a focus on renewable energy and environmental issues. She began her journalism career as an agricultural reporter and now covers the energy sector, including oil, gas, electricity, environment, and renewables. She has been selected for professional training by the US Consulate, Lagos. She is a 2025 Dataphyte Biodiversity Reporting Fellow. Feyishola holds a bachelor’s degree in Zoology and Environmental Biology from Ekiti State University.
