NNPC says its profit decreased by 79% to N185bn in July

The Nigerian National Petroleum Company (NNPC) Limited has reported a profit after tax (PAT) of N185 billion for July.

In its latest ‘Monthly Report Summary’ for July 2025, the national oil firm said the figure dropped by 79.56 percent from N905 billion recorded in June.

The NNPC said the figure reflects the cost of sales and income tax adjustments.

The company said a revenue of N4.406 trillion was recorded in the same period — down by 3.59 percent from N4.57 trillion.

The figure represents the aggregate of groupwide revenues, including intercompany transactions, the NNPC said.

According to the organisation, crude oil and condensate production averaged 1.7 million barrels per day (bpd) in July, while natural gas output was 7.72 million standard cubic feet daily (mscfd).

Highlighting its “strategic” efforts, the national oil company said it is sustaining crude oil and condensate production, improving the uptime of production facilities, and continuing stakeholders’ collaboration and operational efficiency.

“Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline: Additional subcontractors deployed to expedite completion of mainline works and fast track project completion,” the report reads.

The NNPC said it has commenced the implementation of the revised execution strategy towards an expedited completion of Obiafu-Obrikom-Oben (OB3) River Niger crossing.

“[The] 113km portion of OB3 Gas Pipeline has been commissioned and is flowing about 300mmscf/d of gas from two gas producers,” the oil company said.

The report noted that the NNPC Foundation coordinated the donation of 35 compressed natural gas (CNG) buses to the presidential initiative on CNG (Pi-CNG), “in conjunction with the offices of executive vice-presidents, downstream and business services”.