The Nigerian National Petroleum Company Limited (NNPCL), Nigeria’s government-owned oil enterprise, has remitted an unprecedented N10.07 trillion to the Federation Account during the first eight months of 2025.
This milestone, revealed in NNPCL’s September 2025 monthly update, reflects the company’s mandatory financial contributions from January through August of the year.
In addition, the report highlighted a group revenue of N4.27 trillion and a post-tax profit of N216 billion for the same timeframe, based on preliminary figures outlined in the company’s monthly overview.
These financial outcomes incorporated revisions related to cost of sales and taxation expenses.
The impressive increase was driven by elevated crude oil prices, enhanced production output, and robust natural gas sales.
Crude oil and condensate production averaged 1.61 million barrels per day (bpd) in September, a slight dip from August’s 1.64 million bpd, as detailed in the report.
Earlier in the year, production reached a high of 1.77 million bpd before easing due to maintenance activities at the Nigeria LNG facility and postponed commissioning of Oil Mining Leases (OMLs) 71 and 72.
The company attributed sustained output levels to “collaborative industry efforts and initiatives aimed at production recovery,” despite ongoing obstacles such as crude theft and pipeline vandalism in the Niger Delta region.
Natural gas output averaged 6.28 billion standard cubic feet per day (scf/d) in September, down from approximately 6.95 billion scf/d in August, reflecting temporary slowdowns from maintenance work. Progress on key infrastructure projects like the Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) pipelines remains steady, with the AKK pipeline now 88% complete.
During the third quarter, Brent crude prices hovered around $65 per barrel, while Nigeria’s production rebound helped mitigate the impact of narrower refining margins and elevated domestic fuel distribution costs.
Since its establishment under the Companies and Allied Matters Act in 2021, NNPCL has prioritized a commercial transformation, focusing on minimizing inter-agency inefficiencies and expediting payments to the federation.
The report also noted that pipeline operational uptime in upstream activities averaged 96% in September, reflecting a reduction in disruptions caused by sabotage or leaks. Enhanced security partnerships with the Nigerian military and local monitoring groups have played a significant role in decreasing downtime in the Niger Delta.
Furthermore, NNPC Retail Ltd maintained a 77% petrol availability rate across its nationwide filling stations, indicating a reliable fuel supply despite market volatility following subsidy adjustments. The company has also extended its branded service stations into more rural areas to boost fuel accessibility.
Industry analysts project that if the current remittance pace continues, NNPCL’s total contributions could surpass N15 trillion by the end of 2025, offering vital support to government revenue streams and foreign reserves.
