Metro
NNPC Remits ₦7.9tn To Federation Account In Seven Months
The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted ₦7.913 trillion to the Federation Account between January and July 2026, highlighting the continued importance of the petroleum sector to government revenues….
The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted ₦7.913 trillion to the Federation Account between January and July 2026, highlighting the continued importance of the petroleum sector to government revenues.
According to NNPC’s July 2026 Monthly Report Summary, the company generated ₦3.087 trillion in revenue in July and recorded a profit after tax of ₦279 billion.
NNPC said crude oil and condensate production averaged 1.68 million barrels per day (bpd) during the month, while natural gas production stood at 7.489 billion standard cubic feet per day.
The company also reported progress on major gas infrastructure projects, with the Obiafu-Obrikom-Oben (OB3) gas pipeline reaching 100 per cent completion and the Ajaokuta-Kaduna-Kano (AKK) pipeline reaching 95 per cent.
Upstream pipeline availability also reached 100 per cent during the month.
NNPC said production improvement efforts remained focused on maintaining high facility uptime through preventive maintenance and reducing unplanned downtime.
The company also highlighted measures to optimise export operations, develop incremental production opportunities and improve operational reliability across its portfolio.
These include tandem offloading operations at the Akpo and Erha fields to improve export flexibility, as well as the restoration of barging operations at Obodo to support production evacuation.
The ₦7.913 trillion remitted to the Federation Account represents a significant source of revenue for the Federal Government, states and local governments.
NNPC, however, stressed that its July revenue figure should not be confused with its statutory remittances to the Federation Account.
While the ₦3.087 trillion represents revenue generated by the company during July, the ₦7.913 trillion covers cumulative remittances between January and July.
NNPC said all production, sales and financial figures contained in the July report were provisional and subject to reconciliation with relevant stakeholders.
The latest figures come amid Federal Government efforts to boost crude oil production, improve operational efficiency, strengthen gas infrastructure and attract fresh investment into Nigeria’s petroleum industry.
“Any Algorithm Can Calculate, But It Cannot Care” — NMCN Registrar Warns Nurses Against Overreliance On AI
RE: RESPONSE TO MISLEADING PUBLICATION ON THE PRESIDENTIAL AMNESTY PROGRAMME (PAP)
2027: ‘Peter Obi’s Logic Is Short-Term Turnover Unlike Tinubu Who Thinks Of Next Generation’ – Oshiomhole
‘Politics is expensive everywhere’ – Wike replies critics over high billboard cost in Abuja
‘He’s closest to Lionel Messi’ – Rashford names player to win more Ballons d’Or than Cristiano Ronaldo
Power Outage: Tegbe assures Nigerians of swift restoration as electricity disruptions hit Lagos, Abuja
“Not To Own It, But To Give It Another Chance At Life” — Foreigner Rescues Sea Turtle From Lagos Sellers As NESREA Faces Enforcement Questions
“Courts Must Guard Their Independence, Impartiality And Integrity” — NDC Warns After Atiku’s Candidacy Is Nullified
Investigate hijab controversy in Nigerian law schools immediately- MURIC to Council of Legal Education
Jesus de Miguel’s death: ‘He’d never intentionally hurt anyone’ – Owono’s team-mate defends goalkeeper
Serie A: Lazio prepare new contract for Dele-Bashiru
Serie A: Lazio prepare new contract for Dele-Bashiru
Rivers Crisis: You Won’t Regret What You’ve Done – Tinubu Assures Fubara
“My First Mistake Was Listening To Buhari” — Amaechi Blames 2022 APC Primary Defeat On Former President’s Unfulfilled Promise
‘I looked very hopeless’: Tinubu reflects on 2023 presidential election
Power Supply To Improve Within 72 Hours, Minister Assures Nigerians
“Personal Attacks On Judges Are Not A Substitute For Legal Argument” — C4G Tells Okonkwo, Odinkalu Over ADC Judgment
COAS assures troops of Nigerian Army’s 4 Brigade of improved welfare
EPL: ‘Awoniyi decision was penalty’ – Lampard blasts three VAR calls after Everton won
Sokoto Governor Doubles NYSC Monthly Allowance To ₦20,000, Gives Corps Members ₦30,000
Politics7 days agoOver 200 Boko Haram Terrorists Are Moving To Attack Military Camp In Buni Yadi As Rockets Target Troops; IED Threat Raises Travel Concerns
- Metro7 days ago
“The Election Must Hold As Scheduled” — INEC Chairman Rules Out Postponement Of 2027 General Elections
- Metro7 days ago
“Publishing His Name Is Subject To The Final Outcome Of A Court Order” — INEC Leaves Gwarzo Off Updated Kano Governorship List
- Metro7 days ago
“Ebola Outbreak Is Not Yet Under Control” — Africa CDC Warns As Confirmed Cases Exceed 10,200, Death Toll Surpasses 5,000
- Metro7 days ago
“Death Benefits Will Be Fully Paid To Next Of Kin” — NAF Pledges Continued Salaries For Personnel Killed In October 5 Aircraft Crash
- Metro6 days ago
“They Beat Me Like A Criminal” — Sowore Recounts Ekiti Attack As Govt Denies Involvement, Calls For Police Investigation
- Metro7 days ago
“Sowore’s Whereabouts Remain Unknown” — Armed Men Allegedly Abduct AAC Presidential Candidate In Ado-Ekiti, Damage Vehicles And Restaurant
- Metro7 days ago
“21 Exotic Vehicles Affected, No Life Lost” — LASEMA Confirms Lagos Mechanic Workshop Fire, Averts Disaster At Nearby Filling Station
