NNPC’s Federation Account Remittance Rises to N7.91trn in Seven Months

The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted a total of N7.91 trillion to the Federation Account between January and July 2026, reinforcing its contribution to government revenue despite a decline in crude oil and condensate production in July.

The disclosure was contained in NNPC Ltd’s July 2026 Operational and Financial Performance Report released on Wednesday, September 2, 2026.

The N7.91 trillion remittance represents the cumulative amount transferred by the national oil company to the Federation Account during the seven-month period.

NNPC’s remittance came amid a mixed operational performance in July, with the company reporting N3.09 trillion in revenue and N279 billion in profit after tax.

While the company sustained its contribution to public revenue, crude oil and condensate production declined to 1.68 million barrels per day (mbpd) in July, from 1.72mbpd in June and 1.73mbpd in May.

NNPC attributed the July decline to operational disruptions across several assets, including facility outages, equipment unavailability, pipeline incidents and production constraints.

The company said it was implementing measures to reverse the decline, with emphasis on preventive maintenance, improved facility uptime and minimising unplanned downtime.

It also identified the optimisation of export operations at FEPL and Nembe EP, development of incremental production opportunities and stronger operational reliability as part of its production recovery measures.

Additional interventions include tandem offloading operations at Akpo and Erha to improve export flexibility and the restoration of barging operations at Obodo to strengthen production evacuation.

The decline in production was reflected in crude oil and condensate sales, which fell to 22.53 million barrels in July from 28.23 million barrels in June.

July sales comprised 21.53 million barrels of crude oil and one million barrels of condensate.

The month-on-month decline of 5.70 million barrels represents about 20.2%, pointing to the impact of operational constraints on the volume of hydrocarbons available for sale

Meanwhile, NNPC reported natural gas production of 7.49 billion standard cubic feet per day (bscf/d), while gas sales stood at 4.6bscf/d during the period.

The company reported 100% availability of its upstream pipeline network.

On gas infrastructure development, NNPC said pre-commissioning activities had been completed on the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline, with first gas initially targeted for August 2026.

Construction and installation works on the Ajaokuta-Kaduna-Kano gas pipeline were also described as being at an advanced stage, with the project expected to support early gas delivery to Abuja in 2026.

NNPC put AKK pipeline availability at 95%, while NNPC Retail’s petrol stations recorded 52% availability, with distribution varying across regions.