ABUJA – The Nigerian National Petroleum Company Limited (NNPCL) has announced a robust financial performance, posting a profit after tax (PAT) of N385 billion for the month of January. This was revealed in the NNPCL's monthly report for January 2026.
Key Highlights
NNPCL generated N2.57 trillion in revenue in January 2026.
Profit after tax (PAT) for January stood at N385 billion.
N726 billion was remitted into the Federation Account as statutory payments in January.
Crude oil and condensate output averaged 1.64 million barrels of oil per day in January.
Natural gas production reached 7,283 million standard cubic feet per day in January.
During the period under review, the state-owned oil firm generated a total revenue of N2.57 trillion. In addition to its profitability, NNPCL remitted N726 billion into the Federation Account as statutory payments.
On the production front, NNPCL reported that crude oil and condensate output in January averaged 1.64 million barrels of oil per day. Natural gas production for the same month was significant, reaching 7,283 million standard cubic feet per day.
The report also highlighted progress on key infrastructure projects. The Obiafu-Obrikom-Oben (OB3) project is 96 percent complete, while the Ajaokuta Kaduna Kano (AKK) pipeline has achieved 92 percent completion. Pre-commissioning activities for the AKK mainline continued, with substantial progress reported in the construction of Block Valve Stations (BVS) and Intermediate Pigging Stations (IPS).
NNPCL noted an increase in production month-on-month, attributed to the completion of Turn Around Maintenance at Agbami and Renaissance (Estuary Area – EA). However, planned deliveries for January were impacted by adverse weather conditions, evacuation challenges, and asset integrity issues. Drilling activities for the OB3 River Niger Crossing progressed as scheduled.
In terms of Corporate Social Responsibility, under the NNPC Foundation Public Impact Initiatives, NNPCL successfully conducted its Financial Literacy Program for the 2026 Batch A, Stream 1 NYSC Corps Members on Sunday, January 25, 2026, via online streaming. This session reached 79,657 participants across all 36 states and the FCT, bringing the cumulative number of Corps Members trained under the program to 1,231,081.
NNPCL Retail Limited stations reported 54 percent availability of Premium Motor Spirit (PMS) in January.
