The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted a total of N12.117 trillion in statutory payments to the Federation Account between January and October this year, data contained in its Monthly Report Summary for November showed.
The information released on Wednesday showed that the cumulative statutory payments, which include taxes, royalties and other mandatory transfers to the Federation Account, were delivered against the backdrop of fluctuating crude oil output, volatile gas production and ongoing operational constraints across the oil and gas value chain.
The N12.117 trillion remittance places average monthly statutory payments at roughly N1.21 trillion, reflecting the combined effect of crude oil sales, gas revenues and improved operational efficiency in certain segments of the national oil company’s portfolio.
Alongside statutory payments, the NNPC reported a total revenue of N4.358 trillion in November, while profit after tax stood at N502 billion, implying a profit margin of approximately 11.5 per cent, suggesting that while revenues remain relatively strong, cost pressures and structural inefficiencies continue to weigh on net earnings.
Operationally, crude oil and condensate production averaged 1.60 million barrels per day in November, with 2025 peak production recorded at 1.77 million barrels per day earlier in the year.
This means current output is about 9.6 per cent below the year’s high, possibly reflecting the impact of maintenance downtime, security challenges and natural field decline. Nevertheless, production levels have remained broadly stable, allowing NNPC to sustain steady sales volumes and statutory remittances.
Crude oil and condensate sales fluctuated during the year, peaking at 26.71 million barrels in October, the data indicated, before easing to 19.98 million barrels in November, representing a month-on-month decline of about 25 per cent.
In the same vein, gas production remained a key pillar of NNPC’s earnings profile. Average gas output in November stood at 6,968 million standard cubic feet per day, compared with a yearly high of 7,722 mmscf/d in July, indicating a decline of roughly 9.7 per cent from peak levels.
Besides, gas sales followed a similar trend, closing November at 4,650 mmscf/d, up from 3,443 mmscf/d in September, a rebound of about 35 per cent within two months. This recovery helped stabilise revenues and reinforced gas’ growing importance in Nigeria’s energy mix and export earnings.
In infrastructure, the report showed 100 per cent availability of upstream pipelines in November, while key crude oil evacuation routes such as OB3 recorded 96 per cent availability, and the completion of Ajaokuta-Kaduna-Kano (AKK) stood at 90 per cent.
Also, high pipeline uptime reduced disruptions, supported higher evacuation volumes and limited revenue losses typically associated with downtime and vandalism.
On the retail front, NNPC said its stations recorded 61 per cent petrol availability nationwide, reflecting lingering supply and logistics challenges in the downstream sector. While this figure signalled improvement compared to earlier periods of acute shortages, it also pointed to structural inefficiencies that continue to affect domestic fuel distribution and pricing stability.
The report also outlined ongoing strategic efforts aimed at sustaining and potentially improving performance, including intensified collaboration with industry partners and completion of scheduled 2025 facility turnarounds.
“November production performance was largely due to planned maintenance activities across key assets (Esso-Erha, Stardeep-Agbami, and Renaissance-Estuary Area) nearing completion, with production recovery expected at the end of December 2025 and continued delays with WAEP first oil.
“ (We plan to) complete the 2025 scheduled facilities turn around maintenance (TAM), and production initiatives from JV, PSC, and NEPL assets in readiness for delivering the 2026 production plan.
“And intensify collaboration with our partners through year-end and into 2026 to ensure improved production performance, maximise infrastructure uptime, and maintain high facility maintenance standards across all our assets,” the company stated.
On the AKK project, it stressed that significant progress has been recorded with completion of the mainline welding works and pressure-testing, while the project is on course to be completed in 2026.
“All required equipment, materials and personnel mobilised to site (on OB3 River Niger Crossing); geotechnical data acquisition completed and early construction works (are) ongoing in preparation for commencement of drilling,” the national oil company added.
Progress on these projects, according to the NNPC, is expected to enhance gas supply reliability and support higher production levels in the medium term.
Beyond commercial operations, NNPC highlighted its social investment footprint through the NNPC Foundation, noting recognition in areas such as sustainability reporting, workplace excellence and poverty reduction initiatives.
Emmanuel Addeh
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