NNPC revenue hits N28.54 trillion in eight months

NNPC Limited generated N28.54 trillion in revenue and recorded N2.99 trillion in profit after tax between January and August 2026.

This is according to Nairametrics’ analysis of the company’s monthly financial reports.

The state-owned energy company’s revenue and profitability fluctuated during the period, with monthly revenue peaking at N4.97 trillion in April and profit after tax reaching a high of N535 billion in June.

NNPC also reported N9.487 trillion in remittances over the eight months, while its performance came amid volatility in international crude oil prices.

NNPC revenue and profit fluctuate in 2026

NNPC generated N2.571 trillion in revenue and recorded N385 billion in profit after tax in January, with a profit margin of 15%. In February, revenue rose to N2.680 trillion, but profit fell sharply to N136 billion, reducing the margin to 5.1%.

In March, revenue increased to N2.774 trillion, while profit after tax recovered to N276 billion, representing a margin of 9.9%.

• The company’s revenue surged to N4.971 trillion in April, the highest monthly figure during the eight-month period. Profit after tax stood at N481 billion, with a margin of 9.7%.
• Revenue declined to N4.335 trillion in May, while profit eased to N462 billion. The profit margin improved to 10.7%. In June, revenue edged up to N4.389 trillion, while profit after tax reached its period high of N535 billion, representing a margin of 12.2%.
• NNPC’s financial performance weakened in July, when revenue dropped to N3.087 trillion and profit fell to N279 billion. The profit margin stood at 9%.

In August, revenue recovered by 21.1% month-on-month to N3.737 trillion, while profit after tax rose by 54.5% to N431 billion. The profit margin improved to 11.5%.

Overall, the company’s monthly results show that revenue and profit did not always move at the same pace. While April recorded the highest revenue, June delivered the strongest profit after tax.

NNPC earnings amid oil market volatility

The revenue and profit figures come amid fluctuations in international crude oil prices and changes in the company’s production performance. Brent crude prices climbed well above $100 per barrel during the height of the Middle East supply disruption before retreating as concerns about prolonged disruption eased.

NNPC’s monthly reports also show changes in crude oil and condensate production alongside revenue movements during the first half of the year.

• Revenue increased to N4.971 trillion in April, when crude oil and condensate production averaged 1.68 million barrels per day.
• In May, revenue stood at N4.335 trillion as production rose to 1.73 million barrels per day, the highest monthly level recorded during the first half of 2026.
• June revenue reached N4.389 trillion, with crude oil and condensate production averaging 1.72 million barrels per day.

The figures provide a snapshot of the relationship between NNPC’s operating activity and financial performance, although monthly revenue movements alone do not establish the precise contribution of crude prices, sales volumes, production or operating costs.

Nairametrics earlier reported that NNPC Limited’s profit after tax rose by 33% to N7.2 trillion in 2025, from N5.4 trillion in 2024, despite a 24% decline in revenue to N34.5 trillion. The latest figures provide a monthly breakdown of the company’s performance in 2026, showing fluctuations in both revenue and profitability.

NNPC remits N9.49 trillion in eight months

NNPC reported N9.487 trillion in remittances between January and August 2026, alongside the N28.544 trillion in revenue and N2.985 trillion in profit after tax recorded over the same period.

The remittance figure represents a separate measure from revenue and profit. Revenue reflects income generated by the business, while profit after tax accounts for expenses and tax; remittances refer to payments made to the relevant government accounts.

Nairametrics previously reported that NNPC remitted N14.706 trillion in statutory payments to the Federal Government between January and December 2025.