The Nigerian National Petroleum Company Limited (NNPC Ltd) reported that its monthly income fell by 14.17% in November 2025 to N4.358 trillion, down from N5.078 trillion in October.
In its monthly report released on Wednesday, NNPC Ltd showed that, despite a reduction in revenue, profit after tax increased by 12.3 percent to N502 billion in November, up from N447 billion the previous month. The study also revealed that the corporation paid required payments to the government totaling N967 billion in October, increasing the total remittances between January and October to N12.117 trillion.
According to the national oil company, crude oil and condensate production averaged 1.6 million barrels per day for the month. It recorded petroleum output of 1.36 million barrels per day, which was much below than the country’s OPEC allotment of 1.5 million barrels per day (mbpd).
Total oil output was also much lower than the 2.06 million per barrel forecast in the Federal Government’s 2025 budget. In November, NNPC reported a 0.04 percent reduction in gas production to 6,968 mmscf/d from 6,997 mmscf/d.
According to NNPC, the Obiafu-Obrikom-Oben (OB3) gas pipeline project is 96 percent complete, while the Ajaokuta-Kaduna-Kano (AKK) gas project is 90 percent completed.
NNPC explained that the “November production performance was largely due to planned maintenance activities across key assets (Esso-Erha, Stardeep-Agbami, and Renaissance-Estuary Area) nearing completion, with production recovery expected at the end of December 2025 and continued delays with WAEP first oil.”
It stated that it was collaborating with partners to complete “the 2025 scheduled facilities turnaround maintenance (TAM) and production initiatives from JV, PSC, and NEPL assets in readiness for delivering the 2026 production plan.
“Intensify collaboration with our partners through year-end and into 2026 to ensure improved production performance, maximise infrastructure uptime, and maintain high facility maintenance standards across all our assets”.
