Oil Output Crashes, Yet NNPCL Sh*cks Nation With ₦539 Billion Profit

The Nigerian National Petroleum Company Limited (NNPCL) has reported a remarkable surge in profit, recording ₦539 billion for August 2025 — a 91.3 per cent jump from the ₦185 billion posted in July.....KINDLY READ THE FULL STORY HERE▶

According to the company’s Monthly Report Summary for August 2025, the profit boost was driven by strong revenue growth despite persistent production challenges. NNPCL’s revenue climbed to ₦4.655 trillion in August, up from ₦4.406 trillion the previous month.

The report further revealed that between January and July 2025, the company remitted ₦8.86 trillion into the Federation Account, reinforcing its vital role in financing the Nigerian government.

Oil and Gas Output Slips

Despite the impressive financials, production figures showed a downturn. Crude oil output averaged 1.65 million barrels per day in August, a 2.9 per cent drop from 1.7 million bpd in July. Gas production also declined by 10 per cent, falling to 6,949mmscf/d compared to 7,722mmscf/d in July.

NNPCL attributed the fall to scheduled maintenance at upstream facilities, conducted in line with Nigeria LNG’s Turn Around Maintenance (TAM). The company added that industry-wide efforts were underway to ramp up production as maintenance works conclude.

Pipeline Projects Near Completion

On infrastructure, NNPCL announced that the Ajaokuta-Kaduna-Kano (AKK) gas pipeline has reached 84 per cent completion, with multiple construction sites currently active.

It also disclosed that the Obiafu-Obrikom-Oben (OB3) gas pipeline is now 96 per cent complete, with 113 kilometres commissioned and already supplying about 300mmscf/d of gas from producers such as AHL (250mmscf/d), Platform, Chorus, and Xenergi (50mmscf/d).

The latest performance underscores NNPCL’s expanding financial importance to Nigeria’s economy, even as oil and gas output continues to face setbacks from theft, underinvestment, and maintenance activities. Once completed, the AKK and OB3 pipelines are expected to significantly boost domestic gas supply, enhance power generation, and strengthen Nigeria’s industrial base.