The Nigerian National Petroleum Company Limited remitted a cumulative N7.913 trillion to the Federation Account between January and July, the company said in its July 2026 Monthly Report Summary released Wednesday, even as crude output slipped for a second straight month.
Of the total, N1.627 trillion was remitted in July alone. NNPC posted N3.087 trillion in revenue for the month, down from N4.389 trillion in June, while profit after tax fell to N279 billion from N535 billion in June.
Crude oil and condensate production averaged 1.68 million barrels per day in July, down from 1.72 million bpd in June and 1.73 million bpd in May. NNPC attributed the decline to “facility outages, equipment unavailability, pipeline incidents, and production constraints” across several assets. Natural gas production stood at 7.489 billion standard cubic feet per day, with gas sales of 4.6 billion cubic feet per day.
The company said it had restored barging operations at Obodo to support production evacuation and introduced tandem offloading at the Akpo and Erha fields to improve export flexibility.
On infrastructure, NNPC said its Obiafu-Obrikom-Oben gas pipeline had reached full completion, with pre-commissioning work finished on the River Niger Crossing section and first gas delivery initially targeted for August. The company reported the pipeline network at 100 percent availability. Construction on the Ajaokuta-Kaduna-Kano gas pipeline was described as advanced, at 95 percent availability, with early gas supply to Abuja expected later this year.
NNPC cautioned that all production, sales and financial figures in the report remain provisional pending reconciliation with stakeholders, and noted that the monthly revenue figure should not be conflated with its statutory Federation Account remittances.
