NNPC records N7.9trn statutory payments, sustains 100% pipeline availability

Abdullateef Fowewe

NNPC Limited has announced cumulative statutory payments of ₦7.913 trillion for the first seven months of 2026, underscoring improved operational performance across its upstream and midstream segments.

This was made known in a statement made available by NNPCL on Wednesday.

In July alone, the national oil company added ₦1.627 trillion to its statutory remittances, bringing the January–July total to ₦7.913 trillion from ₦6.286 trillion recorded through June.

The company also posted ₦3.087 trillion in revenue and ₦279 billion in profit after tax for the month, reflecting stronger cash generation amid sustained production levels.

Upstream pipeline availability hit 100% for the second consecutive month, a key indicator of reduced downtime and improved maintenance discipline.

Crude oil and condensate output averaged 1.68 million barrels per day, while natural gas production stood at 7,489 million standard cubic feet per day, supporting both domestic supply and export commitments.

Major infrastructure projects recorded significant progress, with the OB3 pipeline reaching full completion and the AKK gas pipeline at 95% completion.

At NNPC retail stations, premium motor spirit (PMS) availability improved to 52%, as the company continued efforts to stabilise supply chains.

Alongside these operational gains, NNPC highlighted ongoing corporate social responsibility initiatives, including youth entrepreneurship programmes aimed at expanding economic opportunities in host communities.

In its official statement, NNPC Limited said, “NNPC Limited Delivers NGN7.9 Trillion in Statutory Payments, Sustains 100% Upstream Pipeline Availability for Second Consecutive Month. Cumulative statutory payments for January to July 2026 reached NGN7,913 Billion, up from NGN6,286 Billion for January to June 2026, reflecting a month-on-month addition of NGN1,627 Billion. Similarly, upstream pipeline availability was sustained at 100% for the second consecutive month.”