NNPCL posts N385b profit after tax

• Firm generates N2.57tr in Jan.

The Nigerian National Petroleum Company Limited (NNPCL) generated N2.57 trillion revenue in January this year.

This was contained in the NNPCL monthly report of January.

The report said during the period under review, the state-owned firm posted N385 billion profit after tax (PAT).

NNPCL said that in the period under review, N726 billion was remitted into the Federation account as statutory payments.

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.

The report said the NNPCL Retail Limited stations recorded 54 per cent of Premium Motor Spirit (PMS) availability in January.

It further revealed that the Obiafu-Obrikom-Oben (OB3) project was 96 per cent completed while the Ajaokuta Kaduna Kano (AKK) pipeline was 92 per cent completed.

The report said, “AKK (Mainline): Pre-commissioning activities continued while significant progress was reported in the construction of the Block Valve Stations (BVS) and Intermediate Pigging Stations (IPS).

NNPCL revealed that production increased month on month following the completion of Turn Around Maintenance at Agbami and Renaissance (Estuary Area – EA).

 “However, the planned deliveries for January were reduced due to bad weather, evacuation, and asset integrity challenges. OB3 River Niger Crossing: Drilling activities progressed as scheduled.”

On Corporate Social Responsibility, which was under the NNPC Foundation Public Impact Initiatives, the report said the Financial Literacy Program for 2026 Batch A, Stream 1 NYSC Corps Members was successfully conducted on Sunday, 25 January 2026, via online streaming. The session, according to NNPCL, reached 79,657 participants across the 36 states and the FCT, bringing the cumulative number of Corps Members trained under the program to 1,231,081.