The Nigerian National Petroleum Company Limited (NNPCL) has reported a Profit After Tax (PAT) of ₦502 billion in November 2025, up from ₦447 billion recorded in October, according to its latest monthly financial and operational report.

The report also showed that the state-owned energy company generated ₦4.358 trillion in revenue during the month, although this represented a decline from the ₦5.08 trillion posted in October. Between January and October 2025, NNPCL made ₦12.117 trillion in statutory payments to the Federation Account.

In November, crude oil and condensate production averaged 1.60 million barrels per day, while natural gas output stood at 6.968 million standard cubic feet per day. NNPCL attributed the slight production dip to planned maintenance activities across key assets, including Esso-Erha, Stardeep-Agbami, and Renaissance-Estuary Area, noting that production recovery was expected by the end of December 2025. Delays in first oil from West African Exploration and Production Company Limited (WAEP) were also cited.

On infrastructure development, the company disclosed that the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline project was 90 percent completed, while the Obiafu–Obrikom–Oben (OB3) Gas Pipeline recorded 96 percent completion as of November.

NNPCL said welding and pressure-testing of the AKK mainline had been completed, adding that the project remains on track for completion in 2026. For the OB3 River Niger crossing, all necessary equipment and personnel have been mobilised, with early construction works underway ahead of drilling activities.

The report further stated that upstream asset availability stood at 100 percent in November, while Premium Motor Spirit (PMS) availability across NNPCL Retail Limited stations was 61 percent.

NNPCL also confirmed the completion of its 2025 scheduled Turn Around Maintenance (TAM) across facilities, positioning its Joint Venture (JV), Production Sharing Contract (PSC), and NNPC Exploration & Production Limited (NEPL) assets to deliver the 2026 production plan.

The company said it is intensifying collaboration with partners into 2026 to improve production performance, maximise infrastructure uptime, and sustain high maintenance standards across its assets.

Beyond core operations, NNPCL disclosed that the rehabilitation of three wards at the National Orthopaedic Hospital, Igbobi, Lagos, had reached 90.1 percent completion as of November 30, 2025.

Looking ahead, the company plans to boost oil output by 5 percent to 1.8 million barrels per day in 2026, with a long-term target of 4 million barrels per day by 2030. It is also reviewing its asset portfolio, with plans to divest non-performing fields while developing others internally.

Once completed, the $2.8 billion AKK Gas Pipeline will deliver gas at scale to northern Nigeria, including Abuja, supporting industrial parks, fertiliser plants, and power generation facilities.