The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a sharp decline in revenue in January 2026, with earnings falling to N2.57 trillion from N4.82 trillion in December 2025.
The figures were disclosed in the company’s Monthly Report Summary for January 2026, which highlighted a significant contraction in revenue despite a marginal improvement in profit after tax.
The report also showed that NNPC Ltd made statutory payments of N726 billion to the Federation Account in January, down from N1.27 trillion remitted in December 2025.
NNPC Ltd noted that its gas operations remained steady during the period, providing a degree of operational stability amid the decline in revenue.
Natural gas production stood at 7.283 billion standard cubic feet per day (scf/day).
Gas sales reached 4.978 billion scf/day in January.
The company’s profit after tax showed a marginal improvement despite lower revenue and remittances.
The company stated that production increased month-on-month following the completion of turnaround maintenance at Agbami and Renaissance (Estuary Area – EA).
However, it added that planned deliveries for January were hampered by bad weather, evacuation issues, and asset integrity challenges.
The figures reflect the sensitivity of the oil and gas sector to global crude price fluctuations, domestic production levels, and operational factors.
