NNPC monthly revenue drops 14% to N4.358trn

By Obas Esiedesa, Abuja

Monthly revenue of the Nigerian National Petroleum Company Limited (NNPC Ltd) declined by 14.17 per cent in November 2025 to N4.358 trillion, down from N5.078 trillion recorded in October, the company has disclosed.

In its monthly report released on Wednesday, NNPC Ltd revealed that despite the drop in revenue, profit after tax rose by 12.3 per cent to N502 billion in November, compared with N447 billion recorded in the preceding month.

The report also showed that the company made statutory payments of N967 billion to the government in October, bringing total remittances between January and October to N12.117 trillion.

According to the national oil company, crude oil and condensate production were 1.6 million barrels per day during the month. Specifically, it reported that crude production was 1.36 million barrels per day, significantly lower than the country’s allocation of 1.5mbpd by the Organisation of Petroleum Exporting Countries (OPEC).

The total oil production also lagged significantly below the 2.06 million per barrel projected in the 2025 Federal Government budget.

NNPC also reported that gas production dropped marginally by 0.04 percent to 6,968mmscf/d in November from 6,997mmscf/d.

Reporting on the status of gas pipeline projects, NNPC disclosed that the Obiafu-Obrikom-Oben (OB3) gas has reached 96 percent completion while the Ajaokuta-Kaduna-Kano (AKK) gas project has hit 90 percent completion.

NNPC explained that the “November production performance was largely due to planned maintenance activities across key assets (Esso-Erha, Stardeep-Agbami, and Renaissance-Estuary Area) nearing completion, with production recovery expected at the end of December 2025 and continued delays with WAEP first oil.”

It stated that it was collaborating with partners to complete “the 2025 scheduled facilities turn around
maintenance (TAM), and production initiatives from JV, PSC, and NEPL assets in readiness for delivering the 2026 production plan.

“Intensify collaboration with our partners through year-end and into 2026 to ensure improved production performance, maximise infrastructure uptime, and maintain high facility maintenance standards across all our assets.”

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