Nigeria’s state-owned Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a sharp drop in its revenue for January 2026.
The company’s latest Monthly Report Summary released on Monday showed that revenue dropped by nearly half to N2.57 trillion in January 2026, down from N4.82 trillion the previous month.
Despite the revenue slump, NNPC Ltd posted a profit after tax of N385 billion, a slight uptick from December 2025.
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Statutory remittances to the Federation Account also fell to N726 billion, compared to N1.27 trillion in December.
The decline in revenue partly stemmed from reduced planned deliveries amid adverse weather, evacuation issues, and asset integrity hurdles, though output rose month-on-month after turnaround maintenance at the Agbami and Renaissance (Estuary Area) fields.
On production, NNPCL revealed that crude oil and condensate output in January was 1.64 million barrels of oil per day.
According to the report, NNPCL recorded 7,283 million standard cubic feet per day of natural gas production in the month under review.
NNPC Retail Limited stations reported 54 per cent availability of Premium Motor Spirit (PMS) during the month.
Major projects advanced steadily: the Obiafu-Obrikom-Oben (OB3) gas pipeline hit 96 per cent completion, including progress on the River Niger crossing drilling, while the Ajaokuta-Kaduna-Kano (AKK) pipeline reached 92 per cent, with ongoing pre-commissioning on the mainline and construction of block valve and intermediate pigging stations.
In corporate social responsibility efforts under the NNPC Foundation, the 2026 Financial Literacy Program for Batch A, Stream 1 NYSC corps members wrapped up successfully on January 25 via online streaming. It engaged 79,657 participants across Nigeria’s 36 states and the FCT, pushing the program’s total trained corps members to 1,231,081.
SOURCE: LEADERSHIP NEWS PAPER
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