NNPC loses N380bn revenue in Sept
The Nigerian National Petroleum Company Limited has suffered a drop in both production and earnings, losing about N380bn in September 2025 when compared to the previous month, according to its latest monthly performance report.
Figures from the September report showed that the company’s total revenue stood at N4.27tn, lower than the N4.65tn posted in August, representing a month-on-month loss of about N380bn.
Profit after tax also declined from N539bn in August to N216bn in September.
The report indicated that total crude oil and condensate production averaged 1.61 million barrels per day in September, compared to 1.65 million barrels per day in August.
NNPC explained that the shortfall was caused by “planned maintenance activities, including those at NLNG, alongside the phased recovery of previously shut-in assets and delays in the commencement of operations at OMLs 71 and 72.”
Data from the report showed that crude oil production slipped from 1.39 mbpd to 1.37 mbpd, while condensate output dropped from 0.26 mbpd to 0.24 mbpd.
Natural gas production also fell within the same period. According to the report, gas output declined from 6,949 million standard cubic feet per day in August to 6,284 mmscf/d in September, while gas sales reduced from 4,201 mmscf/d to 3,443 mmscf/d.
Despite the lower output, NNPC said work advanced on major gas projects. It reported that sustained focus is being directed towards completion of the mainline works on the Ajaokuta-Kaduna-Kano gas pipeline, which had reached 88 per cent completion as of September.
On the Obiafu-Obrikom-Oben gas pipeline, the company stated that “implementation of a revised execution strategy is underway to ensure delivery within target timelines.”
It added that a “113 km portion of the OB3 Gas Pipeline has been commissioned and is flowing circa 300 mmscf/d of gas” from producers including AHL, Platform, Chorus, and Xenergi.
NNPC’s cumulative statutory payments from January to August stood at N10.07tn, unchanged from the previous month.
Its retail station wetness across the country, an indicator of petrol availability, also dipped slightly from 79 per cent in August to 77 per cent in September.
It was stated that the NNPC Foundation expanded its social impact initiatives during the period as the foundation flagged off its training for vulnerable farmers in the Northern Zones, with 2,141 farmers trained in the North-Central Geopolitical Zone, bringing the total number of smallholder farmers trained to 7,072.
It also said that “in partnership with the Nigerian Cardiac Society, the foundation provided 25 indigent Nigerians with life-saving percutaneous cardiac interventions alongside basic life support training.”
The foundation also participated in the Africa Film Finance Forum, where it “showcased NNPC Ltd’s social interventions and supported youth entrepreneurship in the creative industry with participation sponsorship for youth corps members and undergraduates.”
The combined data from August and September indicate that while the company maintained progress on infrastructure and social projects, operational performance weakened in September as reduced oil and gas output led to lower revenue and profit.
The NNPC Group Chief Executive Officer, Bayo Ojulari, had earlier said the two-day strike embarked upon by oil workers’ unions during their crises with the Dangote refinery also affected productions.
