NNPC Remits N7.9tn to Federation as Revenue Hits N3.087tn in One Month Posts N279 billion profit after tax
Emmanuel Addeh in Abuja
The Nigerian National Petroleum
Company Limited (NNPC) remitted a cumulative N7.913 trillion to the federation between
January and July 2026, as the national oil company recorded revenue of N3.087 trillion in July,
its latest monthly report released yesterday has shown. The NNPC’s Monthly Report
Summary for July 2026 also indicated that the company posted a Profit After Tax (PAT) of N279 billion during the month, while its OB3 facility has reached 100 per cent completion.
During the period, the report showed that crude oil and condensate production stood at 1.68 million barrels per day, Continued on page 8
Seplat Targets 500,000bpd Oil Production, $1bn Shareholder Dividends Payout in Four Years... Page 6 Wednesday 2 September, 2026 Vol 31. No 11469. Price: N400
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FG: With Economic Growth Trajectory, Nigeria on Track Towards $1trn Economy
Says country well positioned to consolidate its standing among Africa’s largest economies Tinubu: We must translate macroeconomic stability into prosperity Yuguda urges Nigerians to carefully evaluate Atiku’s promise to return fuel subsidy Ooni of Ife: Poverty will soon end in Nigeria, declares President’s economic policies yielding good results
Ndubuisi Francis, Adedayo Akinwale in Abuja and Yinka Kolawole in Osogbo Inspired by the second quarter (Q2) real Gross Domestic Product (GDP) growth of 4.43 per cent, up from 3.89 per cent in the preceding quarter, the federal government has declared that Nigeria was well positioned to consolidate its standing among Africa’s largest economies and to advance toward its target of a $ 1 trillion economy by 2030. The Federal Ministry of Finance conveyed government’s position via a statement issued yesterday, following the latest economic growth statistics released by the National Bureau of Statistics (NBS), Monday. This comes as President Bola Tinubu said his administration must translate macroeconomic stability Continued on page 8
STRATEGIC COLLABORATION ON UNLOCKING SOUTH-SOUTH’S MINERAL WEALTH...
Minister of Solid Minerals Development, Dele Alake (middle), with the Managing Director/CEO of the South-South Development Commission, Ms. Usoro Akpabio (left), and the Director of Commercial and Environmental Development, Joseph Ugheoke, during a courtesy visit to the ministry in Abuja, to discuss strategic collaboration on unlocking the South-South’s mineral wealth, sustainable mining, investment and environmental innovation on Monday
Atiku to Tinubu: Stop Punishing Nigerians, Explain Why Petrol is Cheaper in Libya, Angola, Algeria, Others... Page 8