The Nigerian National Petroleum Company Limited (NNPCL) reported a profit after tax of N185 billion in July 2025, despite rising debt concerns.
In its monthly performance report, the company disclosed a N7.9 trillion remittance to the Federation Account in the first half of the year. Oil production averaged 1.70 million barrels per day (mbpd) in July, up from 1.68mbpd in June.
The report detailed that condensate accounted for 0.29mbpd, while crude oil output was 1.40mbpd. Natural gas production reached 7.72 billion standard cubic feet per day (mmscfd), with sales climbing to 4.98bscfd, the year’s peak.
On projects, NNPCL said the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline was 83 percent complete, with new subcontractors deployed to speed up work. It confirmed 100 percent upstream pipeline availability, minimizing disruptions.
The report added that 113km of the OB3 pipeline had been commissioned, injecting about 300mmscfd of gas into the system. Supplies included 250mmscfd from AHL and 50mmscfd combined from Platform, Chorus, and Xenergi.
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NNPCL emphasized that these supplies would ease domestic gas shortages and support industrial power generation. It reaffirmed commitments to facility uptime, stakeholder collaboration, and completion of key infrastructure to advance Nigeria’s energy transition.
Meanwhile, the Federal Government announced plans to clear the N2.7 trillion legacy debt owed gas companies by leveraging royalty payments.
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, disclosed this during a virtual meeting organized by Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo.
Represented by Dennis Anyanwu, Komolafe said mechanisms were being designed to address the debt without disrupting government revenue. Renaissance Africa Energy chairman, Layi Fatona, welcomed the plan but urged regulators to fast-track execution.
