NNPC posts ₦4.61trn revenue, ₦509bn profit in September as output hits 3.04m boe/d
NNPC Limited recorded ₦4.61 trillion revenue and ₦509 billion profit after tax in September 2026 as total hydrocarbon production rose to 3.04 million barrels of oil equivalent per day, up from 3.01 mmboe/d in August. Crude oil and condensate output reached 1.70 million bpd while natural gas production eased slightly to 7,789 mmscf/d.
The production increase came largely from the restart of the Obodo field in OML 150 and restoration across other assets. Gas sales averaged 4,793 mmscf/d and crude sales totalled 24.63 million barrels. Upstream pipeline availability hit 100%, though petrol availability at NNPC Retail stations stood at just 54%. Statutory payments from January to September reached ₦11.14 trillion.
Despite gains, NNPC flagged operational constraints: unplanned downtime from facility reliability issues, subsurface problems, flowline leaks, community protests, equipment failures, and storage/export infrastructure limits. The company is restoring shut-in wells, optimizing production, conducting well interventions, and strengthening community engagement to sustain growth.
NNPC is also weighing a 5-10% equity sale via IPO, targeting Nigeria's domestic capital market. Year-to-date through August, the company generated ₦28.54 trillion revenue and ₦2.99 trillion profit. Full-year 2025 audited results showed profit after tax surged 32.7% to ₦7.18 trillion despite revenue falling 23.4% to ₦34.52 trillion.
With NNPC supplying most of Nigeria's petrol and the IPO looming, will this production momentum translate to stable fuel supply and pricing for consumers, or will infrastructure gaps keep the 54% retail availability stuck?