NNPC Limited’s profit after tax fell by 60% in September 2025 as Nigeria’s state-owned oil company grappled with reduced crude and gas output due to maintenance & delayed restart at OMLs 71 & 72.
According to the company’s latest monthly report, profit after tax dropped to ₦216 billion from ₦539 billion in August. Revenue also declined by 8.3% to ₦4.27 trillion during the month.
Despite the earnings contraction, statutory payments to the federation rose to ₦10.07 trillion as of August, up from ₦8.86 trillion in July.
Average daily crude oil and condensate production stood at 1.61 million barrels per day (mmbopd), down from 1.65 mmbopd in August. T
The company attributed the fall to planned maintenance at Nigeria LNG and delays in bringing back onstream key producing assets, including Oil Mining Leases (OMLs) 71 and 72. September’s production level was well below the year’s peak of 1.77 mmbopd recorded earlier in 2025.
Natural gas production also weakened sharply, sliding nearly 10% to 6.28 billion standard cubic feet per day (scf/d) from 6.95 billion scf/d in August.
The drop in gas output mirrored the downturn in exports and sales, with deliveries averaging 3.44 billion scf/d, compared with 4.20 billion scf/d a month earlier.
Despite the operational slowdown, NNPC maintained strong reliability across its network. Upstream pipeline availability held steady at 96%, reflecting continued progress in infrastructure optimization.
The company also advanced two major gas infrastructure projects—the Ajaokuta–Kaduna–Kano (AKK) gas pipeline, now 88% complete, and the Obiafu–Obrikom–Oben (OB3) pipeline, which remained at 96% completion and is already delivering about 300 million scf/d of gas to the domestic market.
NNPC’s retail operations showed marginal improvement, with Premium Motor Spirit (PMS) availability across its stations rising to 77% from 76% in August, indicating a slight boost in nationwide fuel supply stability.
Beyond its core operations, the NNPC Foundation continued its social investment drive, shifting focus from youth digital inclusion to agriculture and healthcare. The foundation trained 2,141 vulnerable farmers—bringing total beneficiaries to over 7,000—and funded 25 cardiac interventions for indigent Nigerians, alongside supporting youth participation in the creative industry through the Africa Film Finance Forum.
While September’s weaker performance reflected temporary constraints, the steady pace of infrastructure projects and consistent statutory payments suggest NNPC remains positioned for recovery as production stabilizes in the fourth quarter.
The company’s challenge now lies in sustaining momentum across its gas projects while restoring upstream volumes to meet Nigeria’s output targets amid global market volatility.
