…Oil production hits highest in 2025
The Nigerian National Petroleum Company Limited (NNPC Ltd) has confirmed that its statutory payments to the Federation Account have surpassed N8 trillion in the first seven months of 2025, providing a crucial fiscal lifeline for the federal government at a time of mounting budgetary pressures.
According to NNPC’s Limited Monthly Report Summary for July 2025, statutory remittances from January to June stood at ₦7.965 trillion.
With July’s inflows, the cumulative figure has now breached the ₦8 trillion mark, underscoring the company’s dominant role as the primary source of revenue for the federal government.
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Crude oil rebounds
The report showed that Nigeria’s crude oil and condensate output continued to recover, reaching 1.70 million barrels per day (mmbopd) in July, the highest level recorded in 2025.
Of this, crude oil accounted for 1.40 mmbopd, while condensate contributed 0.29 mmbopd. This represents a steady improvement from June’s 1.68 mmbopd and January’s 1.67 mmbopd.
Although production still falls short of the government’s budget benchmark of 1.78 mmbopd, the upward trend signals progress in overcoming challenges such as crude theft, pipeline vandalism, and operational bottlenecks.
Gas Output Hits Record Levels
In addition to crude oil, NNPC reported strong performance in natural gas production, which averaged 7.72 billion standard cubic feet per day (bscf/d) in July,the highest so far this year.
Gas sales also climbed, reaching 4.98 bscf/d in July, an increase from 4.74 bscf/d in June and 4.70 bscf/d in May. This growth reflects the company’s focus on gas commercialization and infrastructure development, in line with the federal government’s “Decade of Gas” initiative.
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The report noted that increased gas volumes were boosted by progress on critical infrastructure projects, including the Obiafu-Obrikom-Oben (OB3) Gas Pipeline and the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline.
