The Nigerian National Petroleum Company Limited (NNPCL) has transferred a record N10.07 trillion to the Federation Account in the first eight months of 2025.
This figure, which covers statutory payments made between January and August, was disclosed in the company’s September 2025 monthly report. The surge in remittances was attributed to higher crude prices, improved production levels, and stronger gas sales.
According to provisional data in the report, NNPCL also posted N4.27 trillion in group revenue and N216 billion in profit after tax for the period, following adjustments to the cost of sales and income tax.
Production levels have remained robust, with average crude oil and condensate production holding steady at 1.61 million barrels per day (bpd) in September, slightly below August’s 1.64 million bpd. Output had peaked at 1.77 million bpd earlier in the year before moderating due to maintenance at the Nigeria LNG plant and delayed start-ups at some oil mining leases.
The state energy firm credited “industry-wide collaboration and production recovery initiatives” for supporting output, despite persistent challenges of crude theft and vandalism in the Niger Delta.
In the gas sector, production averaged 6.28 billion standard cubic feet per day (scf/d) in September, down from about 6.95 billion in August, reflecting temporary maintenance slowdowns. The company reported that progress on key pipeline projects remains on track, with the Ajaokuta–Kaduna–Kano (AKK) pipeline now 88 per cent complete.
The report noted that pipeline uptime across upstream operations averaged 96 per cent in September, reflecting fewer disruptions from sabotage or leaks, a result of enhanced security collaborations with the military and local surveillance groups.
If the current remittance trend continues, analysts project that NNPCL’s total payments could exceed N15 trillion by year-end, providing a crucial cushion for government finances and external reserves.
The record remittances underscore NNPCL’s commercial turnaround since its incorporation under the Companies and Allied Matters Act in 2021, which has involved reducing inter-agency leakages and accelerating payment timelines to the federation.
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