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NNPC Makes ₦509bn Profit as New Gas Pipeline Starts Work

The NNPC says it made a profit after tax of ₦509 billion in September 2026.

That is up from ₦431 billion in August.

The company shared the figures in its September monthly report, released on Tuesday.

The report also says the Obiafu-Obrikom-Oben gas pipeline, known as OB3, has started operating after its River Niger crossing was finished.

NNPC says the pipeline has been commissioned and is now running.

Revenue for the month came to ₦4.6 trillion, compared with ₦3.73 trillion in August.

That is a rise of 23.5 per cent.

Payments made to the federation account from January to September added up to ₦11.14 trillion.

That is higher than the ₦9.48 trillion paid from January to August.

Oil and condensate output rose slightly to an average of 1.7 million barrels per day in September, up from 1.69 million in August.

Gas output also went up, from 7,680 to 7,789 million standard cubic feet per day.

Crude and condensate sales edged up to 24.63 million barrels, from 24.56 million in August.

Gas sales rose by 1.2 per cent to 4,793 million cubic feet per day.

NNPC linked the rise in output mainly to the return of production from the Obodo field, known as OML 150, and other assets.

The report also said output is still held back by unplanned shutdowns.

These include equipment failures, leaks in flowlines, community protests, storage problems and disruptions to export facilities.

On infrastructure, the report says upstream pipelines were fully available.

The OB3 pipeline is 100 per cent complete, while the Ajaokuta-Kaduna-Kano gas pipeline is 95 per cent complete.

The company said it is working to keep production growing by restoring shut-in wells, improving maintenance, fixing underground and flowline problems, and engaging host communities to reduce delays.

Finally, NNPC said petrol was available at 54 per cent of its retail stations nationwide in September.

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