NNPC's Federation Account remittance reaches N11.41tn in nine months
NNPC generated N33.15tn in revenue between January and September 2026, a 28.3% decline from N46.26tn in the same period of 2025.
In Brief
- •NNPC generated N33.15tn in revenue between January and September 2026, a 28.3% decline from N46.26tn in the same period of 2025.
- •The company remitted N11.14tn to the Federation Account between January and September 2026, a 17.4% increase from the previous year's figure.
- •September saw a 23.3% month-on-month revenue growth to N4.608tn, but this was insufficient to reverse the year's revenue shortfall.
- •NNPC's profit after tax increased by 18.1% to N509bn in September, but the company's nine-month earnings remained significantly below 2025's performance.
- •Total hydrocarbon production averaged 3.04 million barrels of oil equivalent per day in September.
Why It Matters
The decline in NNPC's revenue and the corresponding increase in statutory payments to the Federation Account highlight the financial pressures facing Nigeria's state-owned oil company. Despite improvements in some production indicators, the company's revenue performance remains below previous years, which could have significant implications for the country's fiscal health and economic stability. The company's operational metrics, such as hydrocarbon production, provide some reassurance, but the overall financial performance raises concerns about NNPC's ability to sustain its operations and meet its statutory obligations.
Key Details
- Total Revenue (Jan-Sep 2026)
- N33.15tn
- Revenue Decline (Jan-Sep 2026 vs 2025)
- 28.3%
- Federation Account Remittance (Jan-Sep 2026)
- N11.14tn
- September Revenue
- N4.608tn
- September Profit After Tax
- N509bn
- Total Hydrocarbon Production (Sep 2026)
- 3.04 million barrels of oil equivalent per day
Context & Background
NNPC's financial performance has been a subject of public scrutiny, with previous reports highlighting declines in revenue and profit. The company's statutory payments to the Federation Account are a significant financial measure, reflecting the company's contributions to the national treasury.
Original Reporting & Sources
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