WorldStage— The Nigerian National Petroleum Company (NNPC) Limited announced a profit after tax of N509 billion for September 2026, marking a steady financial rise alongside a major breakthrough in the country’s midstream gas infrastructure.
According to the company’s monthly financial and operations report released in Abuja, the September profit after tax climbed from the N431 billion recorded in August.
Monthly revenue surged to N4.6 trillion, up by 23.5 percent from the N3.73 trillion (or N4.608 trillion in broader metrics) registered in the preceding month.
Cumulative statutory remittances to the federation account also advanced to N11.14 trillion between January and September 2026.
A key highlight of the September report is the official operationalisation of the Obiafu-Obrikom-Oben (OB3) gas pipeline, which reached 100 percent completion following the successful commissioning and operationalisation of its challenging River Niger crossing.
The completion of the OB3 link marks a critical milestone for Nigeria’s domestic gas utilization, connecting eastern gas fields to western demand centers.
Meanwhile, the companion Ajaokuta-Kaduna-Kano (AKK) gas pipeline project stands at 95 percent completion as management works to deliver early gas supply to Abuja.
Upstream performance mirrored the positive financial ledger. Average crude oil and condensate production rose to 1.7 million barrels per day (bpd) in September—comprising 1.45 million bpd of crude and 240,000 bpd of condensate—up marginally from 1.69 million bpd in August.
Natural gas production similarly expanded to 7,789 million standard cubic feet per day (mmscf/d) from 7,680 mmscf/d in August, while total hydrocarbon production hit 3.04 million barrels of oil equivalent per day.
Despite lingering operational headwinds—including facility reliability issues, flowline leaks, community protests, and export infrastructure bottlenecks—the NNPC attributed the production uplift to the restart of assets like the Obodo (OML 150) well and aggressive well intervention programs.
Downstream, petrol availability across NNPC Retail Limited stations nationwide averaged 54 percent during the month.
