The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted a total of ₦12.117 trillion in statutory payments to the Federation Account between January and October, according to figures released in its November Monthly Report Summary.
The statutory remittances—covering taxes, royalties, and other mandatory transfers—were made despite fluctuating crude oil output, volatile gas production, and persistent operational challenges across Nigeria’s oil and gas sector.
Based on the figures, average monthly statutory payments stood at approximately ₦1.21 trillion, driven by crude oil sales, gas revenues, and improved efficiency in select operational segments.
In November alone, NNPC reported ₦4.358 trillion in total revenue, while profit after tax reached ₦502 billion, translating to an estimated 11.5 percent profit margin. The margin indicates relatively strong revenues, although cost pressures and structural inefficiencies continue to affect net earnings.
Oil Production and Sales Performance
Crude oil and condensate production averaged 1.60 million barrels per day in November, compared to a 2025 peak of 1.77 million barrels per day recorded earlier in the year. Current output therefore remains about 9.6 percent below peak levels, reflecting maintenance activities, security issues, and natural field decline.
Crude oil and condensate sales peaked at 26.71 million barrels in October before declining to 19.98 million barrels in November, a month-on-month drop of roughly 25 percent, according to the report.
Gas Output Supports Revenue Stability
Gas production remained a major contributor to NNPC’s earnings. Average gas output in November stood at 6,968 million standard cubic feet per day, down from a yearly high of 7,722 mmscf/d in July.
Gas sales, however, showed a notable rebound, rising to 4,650 mmscf/d in November from 3,443 mmscf/d in September, helping to stabilise revenues and reinforce gas’ growing role in Nigeria’s energy mix and export earnings.
Infrastructure, Pipelines and Retail Operations
The report recorded 100 percent availability of upstream pipelines in November, while major evacuation routes such as OB3 achieved 96 percent uptime. Progress on the Ajaokuta–Kaduna–Kano (AKK) gas pipeline reached 90 percent completion.
High pipeline availability reduced disruptions, supported higher evacuation volumes, and limited revenue losses typically associated with downtime and vandalism.
In the downstream sector, NNPC said petrol availability across its retail stations stood at 61 percent nationwide, reflecting improvements from earlier shortages but highlighting ongoing supply and logistics challenges.
Strategic Outlook and Project Updates
NNPC outlined plans to complete 2025 scheduled facility turnarounds, intensify collaboration with industry partners, and prepare production initiatives across joint venture, PSC, and NEPL assets ahead of its 2026 production plan.
On the AKK project, the company confirmed completion of mainline welding and pressure testing, with drilling preparations ongoing. The gas pipeline is expected to be completed in 2026, boosting gas supply reliability and medium-term production capacity.
Beyond commercial operations, NNPC also highlighted the activities of the NNPC Foundation, noting recognition in sustainability reporting, workplace excellence, and poverty reduction initiatives.
