LE BRIEF

Nigeria: NNPC's nine-month revenue falls 28.3%, according to analysis of monthly reports

LE BRIEF • 2026-11-06

The reported cumulative figure is ₦33.15 trillion, against ₦46.26 trillion a year earlier. September's recovery does not offset the period's decline; revenue, profit and Federation payments remain distinct measures.

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LE BRIEF — Friday, 6 November 2026, consolidated edition By the LE BRIEF newsroom Country : Nigeria Source publication : 5 November 2026 for Punch; September NNPC report published on 3 November Event : January–September 2026 data and release of the September monthly update Supplied image: hydrocarbon-processing facilities. Sector illustration; site, connection with NNPC and date are uncertified. Reproduction rights are not documented in the dossier. Nigerian National Petroleum Company recorded approximately ₦33.15 trillion in revenue from January to September 2026, against ₦46.26 trillion in the same period of 2025, according to Punch's 5 November analysis of monthly reports. The decline is 28.3%, or around ₦13.11 trillion. These totals are accumulated from monthly publications. They are not an audited annual statement, net profit or government budget revenue. NNPC says the September report's figures are provisional and subject to reconciliation. Monthly improvement does not reverse the cumulative decline September revenue reached ₦4.608 trillion, against about ₦3.740 trillion in August. One month's recovery does not close the nine-month gap or establish a lasting improvement in profitability. The official September report records ₦11.14 trillion in statutory payments to the Federation Account over January–September. This measures payments to the federation, not the company's...