The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax (PAT) of N216 billion for September 2025, representing a 40% decline from the N539 billion posted in August.

According to its latest monthly financial report released on Tuesday, NNPCL’s total revenue also dropped to N4.26 trillion in September from N4.65 trillion recorded in August.

The company explained that the fall in revenue and profit was partly due to planned maintenance activities across key production facilities and a temporary reduction in crude and condensate output.

During the month, Nigeria’s total crude oil and condensate production averaged 1.61 million barrels per day (mmbpd) — with 1.37 mmbpd from crude oil and 0.24 mmbpd from condensates. This marks a slight dip from the 1.38 mmbpd recorded in August.

Similarly, natural gas production fell to 6,284 million standard cubic feet per day (mmscfd), compared to 6,801 mmscfd in the previous month. Sales volumes also dropped to 3,443 mmscfd from 4,201 mmscfd.

Despite the decline, NNPCL disclosed that it made statutory payments of N10.073 trillion to the Federation Account between January and August 2025.

On infrastructure projects, the company announced significant progress on two major gas pipeline initiatives — the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, now 88% completed, and the Obiafu–Obrikom–Oben (OB3) Gas Pipeline, which has reached 96% completion.

The report further highlighted that petrol availability at NNPCL retail stations stood at 77%, while upstream pipeline availability was 96%, underscoring ongoing efforts to stabilise supply and distribution.

NNPCL assured stakeholders that operational disruptions were temporary and that normal production levels are expected to rebound following the completion of maintenance activities and recovery of previously shut-in assets.