The Nigerian Nationwide Petroleum Firm (NNPC) Restricted has posted a steep 79.6 per cent drop in revenue after tax (PAT), sliding to ₦185 billion in July 2025 from ₦905 billion in June, its newest month-to-month monetary and operational report reveals.
The state-owned oil agency mentioned the hunch was pushed largely by actions in price of gross sales and revenue tax changes, which offset regular revenues and secure manufacturing.
Groupwide income fell marginally to ₦4.41 trillion in July, in contrast with ₦4.57 trillion a month earlier.
“All manufacturing, gross sales and monetary figures are provisional and topic to reconciliation with related stakeholders,” NNPC famous.
Crude oil and condensate manufacturing edged as much as 1.70 million barrels per day (bpd) from 1.68 million bpd in June. Pure fuel output additionally elevated, rising to 7,722 million commonplace cubic ft per day (mmscf/d) from 7,581 mmscf/d.
Fuel gross sales, reported on a Schedule M-2 foundation, climbed to 4,978 mmscf/d in opposition to 4,742 mmscf/d in June, whereas crude oil and condensate gross sales superior to 25.49 million barrels, up from 21.68 million barrels.
Schedule M-2 tracks an organization’s unappropriated retained earnings, linking starting balances to end-of-year retained earnings and giving a snapshot of current-year revenue, pre-tax earnings, and bills, based on Fondo, an accounting platform for start-ups.
Learn Additionally: NNPC remittances to FG hit N8 trillion in seven months
Between January and June, statutory funds to the federation amounted to ₦7.97 trillion, underlining NNPC’s position because the nation’s main income supply.
On infrastructure, the agency reported recent momentum on two strategic fuel pipelines. Further subcontractors have been deployed to fast-track mainline works on the Ajaokuta–Kaduna–Kano (AKK) Fuel Pipeline, whereas a revised execution technique has been rolled out for the Niger River crossing on the Obiafu–Obrikom–Oben (OB3) line.
“A 113-km stretch of the OB3 pipeline has been commissioned and is now delivering 300 mmscf/d of fuel from producers together with AHL (250 mmscf/d) and Platform, Refrain, and Xenergi (50 mmscf/d),” the report acknowledged.
NNPC Retail Restricted recorded gasoline availability at 70 per cent of its service stations in July, a notch decrease than June’s 71 per cent.
The corporate’s social funding arm, the NNPC Basis, additionally progressed its initiatives, donating 35 compressed pure fuel (CNG) buses to the Presidential Initiative on CNG (Pi-CNG) and launching a tree-planting marketing campaign concentrating on 200,000 seedlings in Katsina State.
Regardless of these operational features, the sharp revenue decline underscores the pressures NNPC faces from tax obligations and rising prices. The corporate reiterated that July figures stay provisional, pending reconciliation with stakeholders.
