The Nigerian National Petroleum Company (NNPC) Limited recorded a profit after tax of N431 billion in August 2026, representing a 54.5 per cent increase from the N279 billion reported in July.
The company disclosed this in its August 2026 monthly report summary released on Monday, which also showed improvements in revenue, crude oil production and gas output.
NNPC's revenue rose to N3.73 trillion during the month, compared with N3.08 trillion in July, indicating a 21.1 per cent increase.
The report also showed that the company's cumulative statutory payments increased to N9.48 trillion between January and August, up from N7.91 trillion recorded between January and July.
In terms of production, average crude oil and condensate output edged up to 1.69 million barrels per day (bpd) in August from 1.68 million bpd in the previous month.
Gas production also increased, reaching 7.68 million standard cubic feet per day in August, compared with 7.48 million standard cubic feet per day in July.
The company's crude oil and condensate sales stood at 24.56 million barrels in August, representing a nine per cent increase over the 22.53 million barrels recorded in June.
Gas sales rose by 3.3 per cent to 4.73 million standard cubic feet per day from 4.58 million standard cubic feet per day in July, according to the report.
On the performance of its infrastructure, NNPC said upstream pipelines recorded 100 per cent availability during the period.
The company further disclosed that the Obiafu-Obrikom-Oben (OB3) gas pipeline had attained 100 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) pipeline was 95 per cent complete.
NNPC said it sustained efforts to improve operational efficiency by ensuring the reliable evacuation of crude oil, reducing production losses associated with deferments and carrying out proactive maintenance of its assets.
It added that measures were taken to address infrastructure integrity challenges, improve coordination of drilling and shutdown activities, restore deferred production and strengthen export and tank management.
The company also said it had reinforced production assurance and accountability across its assets as part of efforts to improve output and operational reliability.
Providing an update on the AKK pipeline, NNPC said construction and installation activities were ongoing, with relevant stakeholders collaborating to accelerate progress.
The project is expected to facilitate gas delivery to Abuja before the end of 2026.
Meanwhile, the company announced that the River Niger crossing of the OB3 pipeline had been successfully commissioned and had commenced full operations.
According to NNPC, the development represents a significant milestone in connecting Nigeria's eastern and western gas network systems and expanding the country's gas transmission capacity.
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