NNPCL’s Profit Rises To N385bn In January Amid 47% Revenue Drop

The Nigerian National Petroleum Company Limited (NNPC Ltd) reported revenue of N2.57 trillion for January 2026, a decrease from N4.82 trillion in December 2025, as detailed in its Monthly Report Summary.

Profit after tax for the month stood at N385 billion, reflecting a marginal gain despite the lower revenue.

NNPC Ltd handles much of Nigeria’s oil and gas operations, contributing significantly to federal revenues through taxes and royalties.

Statutory payments to the Federation Account totalled N726 billion in January, down from N1.27 trillion the prior month, amid ongoing economic pressures, including naira fluctuations.

Crude oil and condensate production averaged 1.64 million barrels per day, with natural gas at 7,283 million standard cubic feet per day; these figures supported stability in gas operations.

Output rose month-on-month following maintenance at fields such as Agbami and Renaissance, though challenges such as weather and evacuation issues affected deliveries.

NNPC Retail Limited achieved 54 per cent availability for Premium Motor Spirit (PMS) at its stations.

Key projects progressed steadily: the Obiafu-Obrikom-Oben (OB3) pipeline reached 96 per cent completion, and the Ajaokuta-Kaduna-Kano (AKK) pipeline advanced to 92 per cent, with work on valve stations and pre-commissioning.

Under the NNPC Foundation’s initiatives, a financial literacy program for NYSC corps members on January 25 reached 79,657 participants nationwide, bringing the cumulative total to 1,231,081 trained.

Nigeria’s production remains below its OPEC+ quota of around 1.5 million barrels per day, influenced by factors like oil theft, which has declined but persists.

Bonny Light crude prices hovered near $71 per barrel early in the month.