The Nigerian National Petroleum Company Limited, NNPC, says it remitted N7.91 trillion to the Federation Account between January and July 2026.

The figures were contained in NNPC’s July 2026 Operational and Financial Performance Report released on Wednesday.

According to the report, the company recorded N3.09 trillion in revenue and N279 billion in Profit After Tax during the period.

However, NNPC’s crude oil and condensate production dropped to 1.68 million barrels per day in July.

That’s down from 1.73mbpd in May and 1.72mbpd in June.

NNPC blamed the July decline on operational disruptions including facility outages, equipment unavailability, pipeline incidents, and production constraints.

Crude oil and condensate sales also fell to 22.53 million barrels in July, made up of 21.53 million barrels of crude and 1 million barrels of condensate. In June, sales stood at 28.23 million barrels.

The company said it is working to reverse the decline. Measures include:

1. Sustaining high facility uptime through preventive maintenance

2. Optimising export operations at FEPL and Nembe EP

3. Developing incremental production opportunities

4. Activating tandem offloading at Akpo and Erha

5. Restoring barging operations at Obodo to improve evacuation

NNPC reported 100% availability of its upstream pipeline network.

Natural gas production stood at 7.49 billion standard cubic feet per day, while gas sales were 4.6bscf/d.

On infrastructure:

1. Pre-commissioning of the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline is complete. First gas was targeted for August 2026.

2. Construction on the Ajaokuta-Kaduna-Kano, AKK, gas pipeline is at an advanced stage to deliver gas to Abuja in 2026. AKK pipeline availability is at 95%.

NNPC Retail’s petrol stations recorded 52% availability, with distribution varying across regions.

The company cautioned that all figures are provisional and subject to reconciliation with relevant stakeholders.

Source: Punch news