The Nigerian National Petroleum Company Limited recorded a 47 percent decline in revenue in January 2026, falling from ₦4.82 trillion in December 2025 to ₦2.57 trillion.
Despite the drop in revenue, the company recorded a marginal increase in profit after tax during the period.
According to figures disclosed in the company’s Monthly Report Summary for January 2026, natural gas production averaged 7.283 billion standard cubic feet per day, while gas sales reached 4.978 billion standard cubic feet per day.
The company stated that crude oil production increased month-on-month following the completion of turnaround maintenance at the Agbami Oil Field and Renaissance Estuary Area assets. It added that planned deliveries for January were affected by adverse weather, evacuation constraints, and asset integrity challenges.
Despite the revenue decline in January 2026, the Nigerian National Petroleum Company Limited has remained a major contributor to government finances. The company paid ₦726 billion in statutory taxes and other payments to the Federation Account in January 2026, according to BusinessDay/TheWill reports. Between January and December 2025, the company remitted ₦14.706 trillion through taxes, royalties, and other statutory payments. Statutory remittances for the full year 2025 totalled ₦14.706 trillion, while total revenue stood at ₦60.5 trillion, and profit after tax reached ₦5.76 trillion.
For the full year ended 2024, the company reported ₦5.4 trillion in profit after tax from total revenue of ₦45.1 trillion.