NNPCL revenue up by 4.24%
The Nigerian National Petroleum Company Limited (NNPCL) at the weekend announced that its revenue soared by 4.24 per cent in February 2026 to N2.68 trillion from the N2.57 trillion recorded
The Nigerian National Petroleum Company Limited (NNPCL) at the weekend announced that its revenue soared by 4.24 per cent in February 2026 to N2.68 trillion from the N2.57 trillion recorded in January.
This was contained in the NNPCL monthly report for February 2026 that was posted in the state-owned oil company X handle.
The report also disclosed that NNPCL declared N136 billion profit, indicating N249 billion decline from the N385billion posted in the preceding month.
NNPCL said, "the report covers key figures, including revenue of N2,680 Billion (up by 4.24% from the January 2026 report), profit after tax of ₦136 Billion, statutory payments, strategic initiatives during the period, and more."
According to the report, there was a sustained natural gas production growth, with crude oil and condensate reaching 1.51 mmbopd, an indication of 13mb/d dip from the 1.64mb/d in January.
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The report said natural gas output climbed to 7,458 mmscf/d, representing an increase of approximately 2.40% in gas production when compared with the January 2026 report.
On the decline in crude oil out, NNPCL explained that "February production performance was impacted by the combined effect of the outage of the Trans Forcados Pipeline (TFP) due to integrity
issues; start-up challenges of Stardeep Agbami GTC 2 & 3 following completion of Turnaround Maintenance; delayed completion of the Sterling Oguali flow station; and production ramp-up constraints from Enyie wells due to sludge management issues, among other operational challenges.”
In the period under review, NNPCL said there were key milestones, including progressed construction and installation works on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, as well as continued drilling operations on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger Crossing in close collaboration with all critical stakeholders, reinforcing the commitment to infrastructure development.
