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NNPC monthly revenue drops 14% to N4.358trn

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NNPC monthly revenue drops 14% to N4.358trn

Pays N967bn to Government

By Obas Esiedesa, Abuja

The Nigerian National Petroleum Company Limited (NNPC Ltd) said that its monthly revenue declined by 14.17 per cent in November 2025 to N4.358 trillion, down from N5.078 trillion recorded in October.

In its monthly report released on Wednesday, NNPC Ltd revealed that despite the drop in revenue, profit after tax rose by 12.3 per cent to N502 billion in November, compared with N447 billion recorded in the preceding month.  The report also showed that the company made statutory payments of N967 billion to the government in October, bringing total remittances between January and October to N12.117 trillion.

According to the national oil company, crude oil and condensate production was 1.6 million barrels per day during the month. Specifically, it reported that crude production was 1.36 million barrels per day, significantly lower than the country’s allocation of 1.5mbpd by the Organisation of Petroleum Exporting Countries (OPEC).

 The total oil production also lagged significantly below the 2.06 million per barrel projected in the 2025 Federal Government budget. NNPC also reported that gas production dropped marginally by 0.04 percent to 6,968mmscf/d in November from 6,997mmscf/d.

 Reporting on the status of gas pipeline projects, NNPC disclosed that the Obiafu-Obrikom-Oben (OB3) gas has reached 96 percent completion while the Ajaokuta-Kaduna-Kano (AKK) gas project has hit 90 percent completion. NNPC explained that the “November production performance was largely due to planned maintenance activities across key assets (Esso-Erha,Stardeep-Agbami, and Renaissance-Estuary Area) nearing completion, with production recovery expected at the end of December 2025 and continued delays with WAEP first oil.”

It stated that it was collaborating with partners to complete “the 2025 scheduled facilities turn around maintenance (TAM), and production initiatives from JV, PSC, and NEPL assets in readiness for delivering the 2026 production plan.

“Intensify collaboration with our partners through year-end and into 2026 to ensure improved production performance, maximise infrastructure uptime, and maintain high facility maintenance standards across all our assets”.

The post NNPC monthly revenue drops 14% to N4.358trn appeared first on Vanguard News.

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Business

Beta Glass injects N1tr into economy in 10yrs, unveils new board

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By Jimoh Babatunde

Beta Glass Plc says it has contributed over N1 trillion to Nigeria’s economy in the last 10 years, reaffirming its commitment to expanding investments, sustainable manufacturing and shareholder value.

At its 52nd Annual General Meeting in Lagos, shareholders approved key resolutions, including the reconstitution of the Board of Directors.

According to an independent Deloitte socio-economic impact report, the company accounts for nearly one per cent of Nigeria’s manufacturing output and about 14 per cent of the non-metallic products sub-sector.

Chairman, Dr. Vitus Ezinwa, said: “The newly reconstituted board will strengthen the company’s governance framework and position it for sustainable growth, increased shareholder value and stronger regional supply chains.”

The company appointed four non-executive directors — Nitin Kaul, Olusola Carrena, Bolaji Olatunbosun Osunsanya and Boye Olusanya — to strengthen corporate governance.

Chief Executive Officer, Alex Gendis, said: “The results achieved during the year demonstrate the resilience of our business and our ability to adapt to changing market conditions. We will continue to focus on operational excellence, innovation and disciplined execution as we position the company for sustainable growth, underpinned by our commitment to building and sustaining strong strategic partnerships with our customers.” The company reported unaudited first-quarter 2026 revenue of N37.54 billion, driven by improved operational efficiency and effective asset utilisation.

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Underwriter bags LUTH award for boosting voluntary blood donation

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By Rosemary Iwunze

AXA Mansard Insurance Plc has been honoured with the Community Hero Award by the Blood Transfusion Centre of the Lagos University Teaching Hospital (LUTH) in recognition of its contribution to strengthening voluntary blood donation and supporting efforts to improve access to life-saving blood for patients.

The recognition comes amid growing calls for increased voluntary blood donation to address recurring shortages in healthcare facilities across Nigeria, where hospitals continue to rely heavily on voluntary donors to meet transfusion needs.

According to the insurer, the award followed its sustained employee-led blood donation drives organised in partnership with the Blood Transfusion Centre, LUTH, as part of its corporate sustainability and community health initiatives.

Over the past two years, employees of the company have donated more than 200 pints of blood to support patients requiring life-saving transfusions, with participation drawn from across its operations.
The company said the initiative demonstrates its commitment to improving community wellbeing while fostering a culture of volunteerism among employees.

Chief Marketing Officer of AXA Mansard Plc, Adebola Surakat, described the recognition as an affirmation of the company’s purpose of advancing human progress through initiatives that extend beyond its core insurance business.

“At AXA Mansard, our purpose is to act for human progress by protecting what matters. We believe protection should be inclusive and extend beyond insurance to improving the wellbeing and resilience of the communities we serve,” she said.

According to Surakat, the award reflects not only the organisation’s commitment to supporting healthcare interventions but also the willingness of its employees to contribute to initiatives that create lasting social impact.

She noted that the company would continue to encourage employee volunteerism and invest in programmes that promote healthier and more resilient communities.

The Community Hero Award is presented to organisations that have demonstrated commitment to promoting blood donation awareness, encouraging voluntary participation and supporting the availability of safe and sustainable blood supplies for healthcare delivery.

Healthcare experts have consistently identified inadequate voluntary blood donation as one of the major challenges facing Nigeria’s healthcare system, with stakeholders urging greater private sector participation in initiatives that strengthen national blood reserves and improve emergency medical response.

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Private healthcare investment deepens as OneHealth by AXA expands specialist services

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By Rosemary Iwunze

PRIVATE healthcare providers are expanding investments in specialist medical services as rising cases of chronic diseases, an ageing population and increasing demand for quality healthcare continue to reshape Nigeria’s healthcare landscape.

The latest move came from OneHealth by AXA, which has introduced Geriatric and Optometry clinics at its Victoria Island Medical Centre in Lagos, widening access to specialised care and reinforcing the growing role of private healthcare providers in bridging critical service gaps.

Industry stakeholders have increasingly stressed the need for greater investment in specialist healthcare as Nigeria grapples with a rising burden of non-communicable diseases, while eye disorders and age-related illnesses continue to place pressure on the country’s healthcare system.

Speaking on the expansion, Chief Business Officer of OneHealth by AXA, Wahen Egbe, said the new clinics were established in response to the evolving healthcare needs of Nigerians and the increasing demand for specialised medical services.

“The addition of these clinics reflects the growing demand for specialised medical services that address the evolving health needs of people at different stages of life,” she said.

Egbe explained that the company’s decision to establish a dedicated Geriatric Clinic followed growing concerns over the healthcare needs of older adults as Nigeria records increasing cases of chronic and age-related illnesses.

According to her, the clinic offers comprehensive assessment, prevention, diagnosis and long-term management of conditions commonly associated with ageing, including hypertension, diabetes, arthritis, osteoporosis, cognitive decline, mobility disorders and other chronic illnesses requiring coordinated multidisciplinary care.

She added that beyond treatment, the clinic is designed to promote healthy ageing by helping senior citizens maintain functional independence and improve their quality of life through personalised care plans.

The Geriatric Clinic operates every Tuesday from 2:00 p.m. to 5:00 p.m., providing specialist consultations for elderly patients and their families.

Also speaking, Country Manager of OneHealth by AXA, Dr. Jadesola Idowu, said the introduction of the Optometry Clinic was aimed at improving access to preventive eye care and addressing the growing incidence of undiagnosed vision problems.

She noted that many eye conditions develop gradually without noticeable symptoms until significant vision loss has occurred, making routine eye examinations essential for early diagnosis and treatment.
“Our Optometry Clinic offers comprehensive eye examinations, vision screening, refraction services, prescription of corrective lenses, eye health assessments and early detection of common eye diseases affecting children, adults and older persons,” she said.

Idowu added that the clinic also provides preventive eye care counselling, occupational vision assessments, prescription updates and referrals for advanced ophthalmic treatment where necessary.
The Optometry Clinic operates from Monday to Friday between 9:00 a.m. and 5:00 p.m.

The expansion marks another step in OneHealth by AXA’s strategy to strengthen integrated healthcare delivery by providing multiple specialist services within a single medical facility.

The company, a subsidiary of the AXA Group, currently offers specialist services spanning cardiology, endocrinology, obstetrics and gynaecology, paediatrics, orthopaedics, physiotherapy, ear, nose and throat (ENT), urology and endoscopy, while also operating 24-hour ambulance and radiology services to improve emergency response and continuity of care.

Healthcare analysts have maintained that sustained private sector investment in specialist care, alongside stronger public-private collaboration, will be critical to improving access to quality healthcare, reducing pressure on public hospitals and enhancing health outcomes as demand for specialised medical services continues to rise across the country.

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