The Nigerian National Petroleum Company Limited (NNPC) paid N11.14 trillion to the federation as statutory payments from January to September 2026, and recorded a Profit After Tax (PAT) of N509 billion in September alone, the company’s monthly report summary for the month has shown.
The report, released on Tuesday also showed that revenue for September stood at N4.608 trillion, with crude and condensate output at about 1.70 million barrels per day and natural gas production at 7.789 billion standard cubic feet per day (mmscf/d).
Besides, a breakdown of the September output showed that crude production alone was 1.45 million barrels per day, while condensate was 240,000 barrels per day.
Gas production rose from 6,997 mmscf/d in October 2025 to 7,789 mmscf/d in September 2026, after peaking at 7,841 mmscf/d in June. Gas sales for September were 4,793 mmscf/d, compared with 4,737 mmscf/d in August and 4,713 mmscf/d in October 2025.
On crude oil and condensate sales, the report showed that the company sold 24.63 million barrels in September, made up of 23.64 million barrels of crude and 0.99 million barrels of condensate. This compares with 24.56 million barrels in August and 22.53 million barrels in July.
The highest monthly sales in the period under review were 28.64 million barrels in October 2025, followed by 28.23 million barrels in June 2026.
During the period under consideration, there was no major disruption to production as upstream pipeline availability stood at 100 per cent, while petrol availability at NNPC Retail Limited (NRL) stations was 54 per cent.
On infrastructure, the report said the Obiafu-Obrikom-Oben (OB3) gas pipeline is 100 per cent complete, with the River Niger crossing commissioned and operationalised, while the Ajaokuta-Kaduna-Kano (AKK) gas pipeline is 95 per cent complete.
Similarly, the company said it was working with stakeholders to speed up construction and pre-commissioning activities so that early gas can be delivered to Abuja in 2026.
Meanwhile, the Group Chief Executive Officer of the NNPC, Mr. Bayo Ojulari, has said that reforms in Nigeria’s oil and gas sector have led to the addition of 600,000 barrels per day to national output, raising production from about 1.2 million barrels per day to 1.8 million barrels per day.
Ojulari, who spoke at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), attributed the growth to the implementation of the Petroleum Industry Act (PIA) 2021, an improved investment climate, better investment decisions, and closer collaboration between NNPC and its partners.
Held under the patronage of Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC, the 2026 ADIPEC brought together more than 239,000 participants from over 170 countries, including ministers, chief executives, investors and technology leaders, to discuss energy security, investment and supply.
Speaking on: “Nigeria’s Reform Agenda: Competing for Energy Capital”, moderated by John Defterios, Ojulari said the company is now working towards the 2 million barrels per day output ambition by 2027.
He said that this will be achieved by maintaining existing infrastructure, protecting base production, increasing output from producing assets, and advancing new projects scheduled to raise production.
“The figure of 1.8 million barrels per day is a stage in a journey towards our objective. We are concentrating on the basics, which are maintaining our infrastructure, protecting base operations and executing the projects that will take production higher,” Ojularistated.
On the domestic market, the GCEO said the removal of the petrol subsidy has been accompanied by a major Compressed Natural Gas (CNG) programme, with over 400 CNG conversion centres established and more than 1,000 trucks that move petroleum products now running on CNG.
He restated that the Obiafu-Obrikom-Oben (OB3) gas pipeline was completed in August 2026, while the Ajaokuta-Kaduna-Kano (AKK) pipeline is expected to deliver gas to Abuja before the end of the year for power generation, data centres and industrial hubs.
Also, Ojulari said the NNPC board and management were working hard to meet the company’s projections as set out in the mandate given to it by President Bola Tinubu.
He explained that a baseline assessment of the company’s asset base and infrastructure has given management a full understanding of its portfolio, including its strengths and the areas requiring improvement. “Our track record will be judged by what is done and not by what is said,” he stated.
On regional gas supply, the GCEO noted that all the countries involved in the Nigeria-Morocco Gas Pipeline have aligned and executed the necessary agreements, and that Nigeria, Algeria and Niger have agreed on the development of the Trans-Saharan Gas Pipeline.
Ojulari stated that NNPC was targeting national gas production of 10 billion standard cubic feet per day (Bcf/d) by 2027 and 12 Bcf/d by 2030, supported by the development of domestic and export markets for Nigerian gas.
He cited major projects, including TotalEnergies’ Ubeta, Shell’s Bonga South-West and Eni’s Zabazaba developments, and noted that commercial agreements covering about $20 billion in investment have been concluded.
According thim, NNPC is building new relationships with partners, including ADNOC and Chinese investors in Nigeria’s refineries, and is working with global service companies to expand service capacity in the country.
Ojulari reaffirmed the company’s commitment to execution excellence and transparency, citing two consecutive earnings calls held by the national oil company.
Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
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