NNPCL Records ₦539 Billion Profit Despite Oil Output Falls – Report
NNPCL's August 2025 report shows a revenue increase to ₦4.655 trillion, up from ₦4.406 trillion in July. Remittances to the Federation Account totaled ₦8.86 trillion between January and July. However, crude oil production dipped to 1.65 million barrels per day, a 2.9% decrease, while gas production fell 10% due to scheduled maintenance. Despite these production challenges, infrastructure projects are progressing, with the AKK gas pipeline at 84% completion and the OB3 gas pipeline at 96%, already supplying 300mmscf/d of gas. NNPCL acknowledges ongoing efforts to increase production post-maintenance. The report highlights NNPCL's critical financial contribution to Nigeria, while persistent issues like maintenance and theft affect production. The completion of key pipelines promises future benefits for gas supply and industrial growth.
