The Nigerian National Petroleum Company Limited (NNPC Ltd.) posted a profit after tax of N385 billion (equivalent of $278,176,816.91) in January 2026, as Nigeria’s crude oil and condensate production rose to 1.64 million barrels per day, up from 1.55 million barrels per day in December 2025, according to the company’s latest monthly operational report.
The state-owned oil firm generated N2.571 trillion in revenue during the month while remitting N726 billion as statutory payments to the Federation.
Despite the profit, monthly revenue declined 47 percent, falling from N4.82 trillion in December 2025 to N2.57 trillion in January 2026.
According to the report, the increase in production was largely driven by the completion of maintenance activities at key offshore assets, particularly the Agbami Field, alongside operational improvements across other upstream facilities.
However, the company noted that operational challenges still affected crude delivery volumes.
“Despite the improved production profile, planned deliveries for January were reduced due to adverse weather conditions, evacuation constraints, and asset integrity challenges across some production corridors,” the report said.
Natural gas production also rebounded to 7,283 million standard cubic feet per day, up from 6,914 mmscf/d in December, reflecting improved upstream performance.
The company reported 24.75 million barrels of combined crude and condensate sales during the month, compared with 22.79 million barrels recorded in December 2025.
Nigeria continues to push to stabilise crude output above 1.5 million barrels per day amid ongoing challenges including oil theft, pipeline vandalism and infrastructure constraints.
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