NNPCL’s profit rose sharply to N539 billion in August despite declines in oil and gas output, with the company citing maintenance activities and highlighting progress on major gas pipeline projects.
The Nigerian National Petroleum Company Limited (NNPCL) has reported a 91.3 percent increase in its monthly profit, rising to N539 billion in August 2025 from N185 billion in July. The company disclosed this in its Monthly Report Summary, noting that revenue for the month climbed to N4.655 trillion, up from N4.406 trillion in July. It also stated that N8.86 trillion had been remitted to the Federation Account between January and July 2025.
Despite the profit surge, Nigeria’s crude oil output averaged 1.65 million barrels per day in August, representing a 2.9 percent decline from July’s 1.7 million barrels per day. Gas production also dropped 10 percent to 6,949mmscf/d, down from 7,722mmscf/d the previous month.
NNPCL attributed the decline to scheduled maintenance across some upstream facilities in alignment with Nigeria LNG’s Turn Around Maintenance. It added that “industry-wide collaboration is ongoing to ramp up production after the exercise.”
The company further announced progress on key gas infrastructure projects. The Ajaokuta-Kaduna-Kano (AKK) gas pipeline had reached 84 percent completion, while the Obiafu-Obrikom-Oben (OB3) Gas Pipeline was 96 percent complete, with 113 kilometres already commissioned and supplying about 300mmscf/d of gas.