NNPC Records ₦2.57trn Revenue in January 2026, Down 46.7% from December
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a revenue of ₦2.57 trillion in January 2026, representing a 46.7 percent decline compared to its earnings in December 2025.
Details contained in the company’s latest monthly financial report showed that the national oil firm generated significantly lower revenue in January when compared to the ₦4.82 trillion recorded in December 2025, reflecting the volatility in Nigeria’s oil and gas revenue stream.
Despite the sharp decline in revenue, NNPC reported an improvement in profitability. The report indicated that the company posted a profit after tax of about ₦385 billion in January, slightly higher than the profit recorded in the previous month.
The report also revealed a decline in the company’s statutory remittances to the federation account. In January, the national oil company remitted approximately ₦726 billion, down from about ₦1.27 trillion remitted in December 2025.
Operational data showed that crude oil and condensate production averaged about 1.64 million barrels per day in January, an increase from 1.60 million barrels per day recorded in December. The production figure includes about 1.39 million barrels per day of crude oil and 0.25 million barrels per day of condensate.
Similarly, oil sales volumes increased during the period, rising to 24.75 million barrels in January compared to 22.79 million barrels in December. Gas operations also recorded improvement, with gas production reaching about 7.28 billion standard cubic feet per day, while gas sales stood at approximately 4.98 billion standard cubic feet per day in January.
The company attributed the production improvements partly to the completion of turnaround maintenance at key oil facilities, although operational challenges such as weather conditions and evacuation constraints affected some planned deliveries during the month.
Industry analysts say the January performance underscores the continued fluctuations in Nigeria’s oil revenues, despite marginal improvements in production and sales volumes.
