NNPC monthly profit drops 64% as revenue hits N2.68trn

The Nigerian National Petroleum Company Limited (NNPC Ltd.) reported a 4.2% increase in revenue for February 2026, rising to N2.68 trillion from N2.57 trillion in January. However, profit after tax plunged by 64.67% to N136 billion due to increased remittances to the Federation. Crude oil and condensate sales also dropped by 10.36%, with average daily production declining to 1.51 million barrels per day from 1.64 million the previous month.