NNPC's Remittance to Federal Government Dips to N11.14 Trillion in Nine Months
NNPC's statutory remittance to the federal government decreased to N11.14 trillion from January to September 2026, down slightly from N11.15 trillion in the same period of 2025.
In Brief
- •NNPC's statutory remittance to the federal government decreased to N11.14 trillion from January to September 2026, down slightly from N11.15 trillion in the same period of 2025.
- •Crude and condensate production increased to 1.70 million barrels per day, up from 1.61 million barrels per day in the previous year.
- •Total revenue rose by 8% to N4.61 trillion between January and September 2026, compared to N4.27 trillion in the same period of 2025.
- •Natural gas production grew from 6.23 million standard cubic feet per day to 7.79 million standard cubic feet per day.
- •NNPC's profit after tax increased to N509 trillion, a 135% jump from N216 trillion in the same period of the previous year.
Why It Matters
The slight decrease in NNPC's remittance to the federal government, despite increased production and revenue, highlights the challenges the company faces in maintaining financial stability. The growth in crude and natural gas production is a positive sign for Nigeria's energy sector, but the need for improved infrastructure and maintenance is evident. The increase in profit after tax indicates the company's financial health, but the dip in petrol availability at retail stations underscores the need for better distribution and management of petroleum products.
Key Details
- Statutory Remittance
- N11.14 trillion (Jan-Sep 2026)
- Crude and Condensate Production
- 1.70 million barrels per day (Jan-Sep 2026)
- Total Revenue
- N4.61 trillion (Jan-Sep 2026)
- Natural Gas Production
- 7.79 million standard cubic feet per day (Jan-Sep 2026)
- Profit After Tax
- N509 trillion (Jan-Sep 2026)
- Petrol Availability at Retail Stations
- 54% (Jan-Sep 2026)
Context & Background
The Nigerian National Petroleum Company Limited (NNPC) is the state-owned oil and gas corporation responsible for the exploration, production, and refining of petroleum products in Nigeria. It plays a crucial role in the country's economy, contributing significantly to revenue generation and employment.
Original Reporting & Sources
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