NNPC says its profit increased by 191% to N539bn in August

The Nigerian National Petroleum Company (NNPC) Limited has reported a profit after tax (PAT) of N539 billion for August.

In its ‘Monthly Report Summary’ for August 2025 published on Friday, the national oil firm said the figure increased by 191.36 percent from N185 billion recorded in July.

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

The company said a revenue of N4.65 trillion was recorded in the same period — up by 5.65 percent from N4.406 trillion.

The figure, NNPC said, reflects the aggregate of group revenues, including intercompany transactions.

According to the company, crude oil and condensate production averaged 1.65 million barrels per day (bpd) in August, from 1.7 million bpd in July, while natural gas output was 6.94 million standard cubic feet daily (mscfd), from 7.72 million scfd.

NNPC said the dip in August production was primarily due to scheduled maintenance at some upstream facilities, “which were aligned with Nigeria LNG’s turn around maintenance (TAM)”.

Commenting on its “strategic” efforts, NNPC said it was sustaining industry wide collaboration and ramping up production “post completion of scheduled Turn Around Maintenance (TAM) of some production facilities”.

On the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, the company said construction activities are progressing at multiple fronts to ensure accelerated delivery of mainline.

The NNPC said it has commenced robust geotechnical investigations in line with revised execution strategy towards guaranteeing delivery assurance on the Obiafu-Obrikom-Oben (OB3) River Niger crossing.

“113 km portion of OB3 Gas Pipeline has been commissioned and flowing about 300 mmscf/d of gas from the following gas producers,” the oil firm said.

NNPC got N1.06 trillion from production sharing contract (PSC) profit oil between January and August 2025, according to the firm’s federation account allocation committee (FAAC) report.