The Nigerian National Petroleum Company Limited (NNPC) sold a total of 136.93 million barrels of crude oil and condensates and generated ₦21.72 trillion in revenue in the first six months (H1) of 2026. These figures are based on analysis of the monthly crude oil and condensate sales and revenues recorded in NNPC’s monthly reports from January to June 2026. Monthly Sales Volume Breakdown For the first half of 2026, NNPC recorded total crude oil sales of 132.97 MMbbls. When combined with 3.96 MMbbls of condensate sales, the cumulative volume for January to June 2026 reached 136.93 MMbbls. A breakdown shows that in January, the company recorded 25.75 MMbbls. The sales dropped in February to 23.08 MMbbls and 17.27MMbbls in March. It rose slightly above the February level to 23.65 MMbbls, but dropped again to 18.95 MMbbls in May. However, it surged to 28.23 MMbbls in June. While June recorded the highest sales volume of the period, with 28.23 MMbbls total sales, March saw the lowest sales at 17.27 MMbbls. Revenue Trajectory For revenue, the national oil company recorded ₦2.57 trillion in January. It rose to ₦2.68 trillion in February and ₦2.77 trillion in March. The company recorded the biggest jump in revenue in April when it hit ₦4.97 trillion, nearly doubling the figures from the previous month (March), reflecting a month-on-month increase of 79.19 per cent. It, however, dropped to ₦4.34 trillion in May and rose by 1.25 per cent to ₦4.39 trillion in June. April recorded the highest monthly …
Economy
By Esther OSOSANYA The Federal Competition and Consumer Protection Commission (FCCPC) has summoned the management of Air Peace Limited following a wave of complaints from passengers across Nigeria over non-refunded ticket fares, many tied to cancelled flights by the airline. The development became known through an official press statement issued by the Commission’s Director of …
By Sunday Michael Ogwu The Dangote Oil Refinery will in August begin direct supply of fuel to retail stations, manufacturers, telecoms firms, and other large users across Nigeria The move which is aimed at enhancing supply, will puts the biggest fuel refinery in Africa in direct competition with local petroleum marketers. Africa's biggest refinery …
The Federal Government has reaffirmed its commitment to tackling Nigeria’s infrastructure challenges through bold, transparent partnerships with the private sector. President Bola Ahmed Tinubu, represented by Vice President Kashim Shettima, made the call while declaring open the 2025 Nigeria Public Private Partnership (PPP) Summit in Abuja. Organised by the Infrastructure Concession Regulatory Commission (ICRC), the …
By Esther Osansanya The Federal Government of Nigeria has called on African nations to harness the collective power of their sovereign wealth funds (SWFs) to drive transformative development, deepen regional integration and accelerate sustainable infrastructure delivery across the continent. Vice President Kashim Shettima made the call at the official opening of the 2025 Africa Sovereign …
By Esther Ososanya Nigeria is bracing for a fresh surge in consumer prices as escalating hostilities between Israel and Iran send shockwaves through global commodity markets, pushing Brent crude toward US$130 per barrel. Though the oil rally promises windfall revenues for Africa’s largest producer, analysts warn that any fiscal boost could be eclipsed by a new wave …
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