ABUJA — The Nigerian National Petroleum Company Limited (NNPCL) reported a sharp 91.3% month-on-month surge in profit to ₦539 billion for August 2025, up from ₦185 billion in July, according to its latest Monthly Report Summary.
Group revenue also improved, rising to ₦4.655 trillion in August from ₦4.406 trillion a month earlier. Cumulative remittances to the Federation Account stood at ₦8.86 trillion between January and July 2025, the company said.
Operationally, crude production averaged 1.65 million barrels per day (mbpd) in August, a 2.9% decline from 1.70 mbpd in July. Gas output fell 10% to 6,949 mmscf/d from 7,722 mmscf/d. NNPCL attributed the shortfalls primarily to scheduled maintenance across upstream assets, aligned with Nigeria LNG’s Turnaround Maintenance (TAM) program. It added that industry partners are coordinating to restore volumes following the maintenance window.
On strategic gas infrastructure, NNPCL reported strong progress:
- Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline: 84% complete, with work streams advancing on multiple spreads to accelerate delivery.
- Obiafu–Obrikom–Oben (OB3) Gas Pipeline: 96% complete. About 113 km have been commissioned, currently delivering ~300 mmscf/d from producers including AHL (~250 mmscf/d) and Platform, Chorus, and Xenergi (~50 mmscf/d).
Analysts say the profit rebound—despite lower oil and gas volumes—suggests a mix of stronger downstream margins, improved cost controls, and possibly favorable pricing and trading dynamics. Sustaining the momentum, however, will hinge on stabilizing production, curbing pipeline vandalism and theft, and bringing the AKK and OB3 pipelines fully onstream to unlock domestic gas-to-power and industrial demand.
NNPCL said it remains focused on post-TAM ramp-up, deepening collaboration with upstream partners, and closing out critical gas corridors that underpin Nigeria’s energy security and industrialization agenda.
