The Nigerian National Petroleum Company Limited (NNPC Ltd) says it remitted ₦1.804 trillion to the Federation Account in February 2026, a sharp rise from the ₦726 billion recorded in January.

In its February 2026 Monthly Report Summary, the company attributed the increase to improved revenue performance and tighter remittance processes. Total revenue for the month rose to ₦2.68 trillion from ₦2.57 trillion in January, while profit after tax stood at ₦136 billion. Crude oil and condensate production averaged 1.51 million barrels per day.

NNPC explained that production during the period was affected by operational disruptions, including pipeline outages, maintenance-related startup challenges, and delays in some facilities, as well as issues linked to sludge management and evacuation constraints.

The company also linked the improved remittance structure to recent policy reforms, including a federal executive order mandating full remittance of oil and gas revenues to the Federation Account and suspending certain deductions previously made by the company.

It added that ongoing infrastructure projects, including work on key gas pipeline developments, are aimed at improving long-term supply and boosting future revenue performance.