NNPC Records ₦380 Billion Revenue Decline in September
Written by Olakunle Oke on October 23, 2025
The Nigerian National Petroleum Company Limited (NNPC) has reported a significant revenue shortfall of ₦380 billion for September 2025, signaling a downturn from ₦4.65 trillion in August to ₦4.27 trillion in total earnings.
According to the corporation’s monthly financial report, profit after tax also dropped sharply from ₦539 billion to ₦216 billion, largely due to reduced crude oil and condensate production. Average production fell from 1.65 million barrels per day to 1.61 million, while gas output and sales also declined.
NNPC attributed the dip to scheduled maintenance operations and delays in asset recovery across key facilities.
Despite the setbacks, the company maintained progress on major gas infrastructure projects. The Ajaokuta-Kaduna-Kano (AKK) pipeline is reportedly 88% complete, while a 113-kilometer section of the OB3 pipeline has already been commissioned.
Industry analysts note that the dip underscores the fragility of Nigeria’s oil-dependent revenue base, stressing the importance of diversifying the economy and accelerating downstream projects.
