The Nigerian National Petroleum Company Limited (NNPC) remitted ₦11.14 trillion to the Federation Account between January and September 2026, according to its latest monthly financial and operational report.
The report also showed that the company generated total revenue of ₦33.15 trillion during the first nine months of the year, representing a decline compared with the corresponding period in 2025.
The figures were reported by Punch Newspapers on Thursday, November 5, 2026, following the release of NNPC’s September 2026 Monthly Operations and Financial Report.
The performance provides an overview of the company’s contribution to government revenue and the financial challenges facing the national oil company.
According to the report, NNPC’s revenue declined by approximately 28.3 per cent from ₦46.26 trillion recorded between January and September 2025.
The reduction represents a difference of about ₦13.11 trillion between the two periods.
The decline is significant because NNPC remains an important participant in Nigeria’s petroleum industry and a major source of payments to the Federation Account.
However, the company recorded a stronger performance in September compared with the preceding month.
Its revenue increased to ₦4.608 trillion in September from approximately ₦3.74 trillion in August, representing a month-on-month increase of about 23.3 per cent.
The September figure was also the company’s strongest monthly revenue since April 2026, when it generated almost ₦5 trillion.
The company recorded a profit after tax of ₦509 billion in September, compared with ₦431 billion in August.
This represented an increase of approximately 18.1 per cent.
Despite the improvement in September, the company’s cumulative revenue remained below the level recorded during the same period last year.
The financial report showed that NNPC’s monthly revenue fluctuated throughout the nine-month period.
Revenue stood at ₦2.571 trillion in January, ₦2.680 trillion in February and ₦2.774 trillion in March.
It subsequently increased to ₦4.971 trillion in April before moderating to ₦4.335 trillion in May and ₦4.389 trillion in June.
Revenue declined to ₦3.087 trillion in July before recovering in August and September.
The company’s statutory payments to the Federation Account reached ₦11.14 trillion during the review period.
These payments are important because they represent funds transferred to the federation through the company’s statutory obligations.
It is important to distinguish these payments from NNPC’s total revenue and profit.
Revenue represents the money generated through business activities, while profit reflects the amount remaining after relevant expenses and other financial obligations have been considered.
Statutory payments are a separate financial measure relating to the company’s obligations to government.
The September report indicated that NNPC’s statutory payments increased by approximately 17.4 per cent compared with the ₦9.49 trillion reported for the first eight months of the year.
The increase reflects the additional payments recorded during September.
A comparison with the corresponding period in 2025 showed that the company’s cumulative statutory payments were slightly lower than the previous year’s level.
The report also provided information about NNPC’s operational performance.
Total hydrocarbon production increased to 3.04 million barrels of oil equivalent per day in September from 3.01 million barrels in August.
Crude oil and condensate production stood at 1.70 million barrels per day.
Natural gas production also increased to 7,789 million standard cubic feet per day from 7,680 million standard cubic feet per day in August.
These figures provide insight into the company’s production activities and the contribution of oil and gas operations to its financial performance.
The petroleum industry remains important to Nigeria’s economy because oil and gas activities contribute to government revenue, foreign exchange earnings and industrial development.
However, fluctuations in production, international oil prices, operational costs and other industry conditions can affect the financial performance of petroleum companies.
For government finances, NNPC’s payments are particularly important because they contribute to the resources available for distribution among the federal, state and local governments.
The latest report therefore presents a mixed picture.
Although the company recorded improved revenue and profit in September, its overall nine-month revenue remained lower than the corresponding figure in 2025.
Sustaining stronger production and improving operational efficiency will be important to supporting future financial performance.
