Profit after tax rises to ₦ 539 billion because NNPC reports a higher receipt of money

Nigerian National Petroleum Company Limited (NNPC LTD) recorded cumulative revenues ₦ 4.655 trillion in August 2025, reflecting an increase in ₦ 4.406 trillion in July, although there was a decrease in crude oil and natural gas output caused by scheduled maintenance activities.

According to the company’s latest financial and operational statements released on Friday, profit after tax rose sharply to ₦ 539 billion in August, up from ₦ 185 billion in July. Money sending according to the law for the federation also increased, reaching ₦ 8.86 trillion at the end of July, compared to ₦ 7.96 trillion in the first half of this year.

However, operational data revealed a decrease in raw and condensate production, which averaged 1.65 million barrels per day in August, down from 1.7 million BPD in July. Natural gas production also declined to 6,949 million cubic feet standard per day, compared to 7,722 MMSCF per day recorded in the previous month.

Likewise, the sale of crude and condensate oil declined to 22.37 million barrels in August from 25.49 million barrels in July, while gas sales subsided to 4.201 MMSCF per day, against 4,978 MMSCF per day in July. The company links the reduction with the maintenance of turnarounds carried out at upstream facilities in accordance with the Nigeria LNG maintenance schedule.

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In infrastructure projects, progress was reported at the Pipes of Yawa -Kaduna -kano, which advanced from 83 percent completed in July to 84 percent in August. Obiafu -Obrikom -Oben pipes also remain active, with 113 kilometers have been assigned and around 300 mmscf gas that is supplied every day by producers including AHL (250 MMSCF) and platforms, choir, and xenergi (50 MMSCF).

In the downstream segment, the “wet” level which is the availability of petroleum products at NNPC retail outlets, increased to 76 percent in August, compared to 70 percent in July.

This report further highlights the corporate social responsibility initiative. In August, 60,231 members of the National Youth Service Corps were trained in financial literacy, carrying the number of cumulative beneficiaries to 930,614. NNPC also sponsored Hackathon Code4privacy in collaboration with the Nigerian Data Protection Commission, which involved 141 Nigerian young people in digital innovation.

There is no update given to the refinery status, which according to the previous company is still being reviewed.