NNPC Reports ₦431 Billion August Profit, Up 54.5%

By Atlantic Reports

The Nigerian National Petroleum Company Limited (NNPC Ltd.) says its profit after tax rose to ₦431 billion in August 2026, a 54.5 per cent increase from ₦279 billion in July.

In its August monthly operations and financial report, the company recorded revenue of ₦3.74 trillion, compared with ₦3.09 trillion the previous month.

The figures distinguish the company’s revenue from its profit after tax. The supplied summary did not explain the factors behind the increases or provide a breakdown of operating costs.

Statutory Payments Reach ₦9.49 Trillion

NNPC reported cumulative statutory payments of ₦9.49 trillion for January to August, compared with ₦7.91 trillion for January to July.

That represents an additional ₦1.58 trillion in the cumulative total. The company reported the increase as 19.89 per cent.

These figures cover different reporting periods and should not be read as a comparison between two monthly payment totals. The supplied summary did not break down the payments by category or recipient.

Production and Pipeline Progress

The report put average crude oil production at 1.69 million barrels per day and average gas production at 7,680 million standard cubic feet per day for the reporting period.

NNPC also reported 100 per cent availability of its upstream pipelines.

For gas infrastructure, the company said the OB3 pipeline had reached 100 per cent completion, while the Ajaokuta–Kaduna–Kano (AKK) gas pipeline stood at 95 per cent.

The reported construction progress does not, by itself, establish commissioning status or the volume of gas being delivered. The supplied summary did not provide those details or a date for completing the remaining AKK work.

The August figures indicate stronger monthly financial performance in NNPC’s account. Further detail on costs, production trends and operational delivery would help explain what drove the gains and how sustainable they are.

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