Oil & Gas
NNPC Exceeds Forecasts with 54.5% Profit Growth to ₦431b in August
By Temitope Adebiyi, Correspondent
The Nigerian National Petroleum Company (NNPC) Limited recorded a 54.5% surge in net profit, reaching ₦431 billion in August this year.
According to the company’s latest monthly operations and financial report released yesterday, net profit after tax climbed significantly from ₦279 billion in July 2026 to ₦431 billion in August.
Revenue for the period stood at N3.74 trillion as against N3.09 trillion recorded in the previous month.
The company also recorded a 19.89 per cent increase in cumulative statutory payments from N7.91 trillion for January to July to N9.49 trillion for January to August.
The report also put the average crude oil and gas production figures for the period at 1.69 million barrels per day and 7,680 million standard cubic feet per day, respectively.
On the state of infrastructure, there was 100per cent availability of upstream pipelines, while the OB3 and AKK Gas Pipelines stood at 100 per cent and 95 per cent completion.
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