The Nigerian National Petroleum Company Limited has remitted N7.91 trillion to the Federation Account between January and July 2026, according to its latest operational and financial performance report.

The report, released on Wednesday, showed that the national oil company also generated N3.09 trillion in revenue and recorded a profit after tax of N279 billion during the period under review.However, the report indicated a decline in Nigeria’s crude oil and condensate production, which dropped to 1.68 million barrels per day in July.

NNPC said production fell from 1.73 million barrels per day recorded in May to 1.72 million barrels per day in June before declining further in July.The company attributed the drop in production to operational challenges affecting several oil assets.

“July crude oil production was affected by a combination of operational disruptions across several assets, including facility outages, equipment unavailability, pipeline incidents, and production constraints,” NNPC stated.

Crude oil and condensate sales also declined during the month, falling to 22.53 million barrels in July from 28.23 million barrels recorded in June.

The July sales figure comprised 21.53 million barrels of crude oil and one million barrels of condensate.NNPC said it had commenced measures aimed at reversing the production decline and improving operational efficiency across its facilities.

“Production improvement efforts will focus on sustaining high facility uptime through effective preventive maintenance programmes and minimising unplanned downtime,” the company said.

According to the report, additional strategies include optimising export operations at FEPL and Nembe EP, developing incremental production opportunities and strengthening operational reliability at key facilities.

The company also disclosed plans to activate tandem offloading operations at Akpo and Erha to improve export flexibility.

It added that barging operations at Obodo would be restored to enhance crude evacuation and support sustained production.On gas infrastructure, NNPC reported 100 per cent availability of its upstream pipeline network.

The company said pre-commissioning activities had been completed on the River Niger Crossing section of the Obiafu-Obrikom-Oben gas pipeline, with first gas initially targeted for August 2026.NNPC also provided an update on the Ajaokuta-Kaduna-Kano gas pipeline project, saying construction and installation works had reached an advanced stage.

The company said the progress was expected to facilitate early gas delivery to Abuja before the end of 2026.The AKK pipeline recorded 95 per cent availability, according to the report, while NNPC Retail petrol stations operated at 52 per cent availability, with distribution varying across different regions.

Natural gas production stood at 7.49 billion standard cubic feet per day, while gas sales were recorded at 4.6 billion standard cubic feet per day.NNPC, however, cautioned that the production, sales and financial figures contained in the report remained provisional.

“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” the company stated.

The latest figures highlight NNPC’s significant contribution to government revenue amid ongoing efforts to stabilise Nigeria’s crude oil production, improve infrastructure reliability and expand gas supply across the country.