The Nigerian National Petroleum Company Limited (NNPC Ltd) saw its profit after tax tumble by 48 per cent to ₦279 billion in July, as disruptions across its oil-producing assets weighed heavily on crude sales.

The company’s latest monthly report showed that profit fell from ₦535 billion in June, while crude oil sales declined to 21 million barrels during the month. NNPC said facility outages, equipment shortages, pipeline incidents and other production constraints contributed to the setback.

The impact was also felt in gas operations, with gas sales falling from 4,970 million standard cubic feet per day in June to 4,581mmscf/d in July. Revenue equally dropped by 31.5 per cent, from ₦4.38 trillion to about ₦3 trillion.

NNPC said it plans to improve production by reducing unplanned downtime, strengthening maintenance and operational reliability, while expanding export activities and restoring evacuation operations at key facilities.