**NNPC January Revenue Drops by 46.7% to N2.57tn Amid Increased Oil Sales** The Nigerian National Petroleum Company Limited (NNPC Ltd) recently released its January 2026 revenue report, showing a significant decline of 46.7% in earnings to N2.57 trillion. This represents a drop of N2.25 trillion compared to the N4.82 trillion recorded in December 2025. Despite this, the report highlights improved sales volumes for both crude oil and natural gas during the period. According to the NNPC Monthly Report Summary for January 2026, crude oil production increased by 2.5% to 1.64 million barrels per day (bpd), with crude oil contributing 1.39 million bpd and condensate accounting for 0.25 million bpd. This production level is a slight improvement from the 1.60 million bpd recorded in December 2025. Another notable aspect of the report is the rebound of gas output, which increased by 5.3% to 7,283 million standard cubic feet per day (mmscfd). This uptick in gas production is a promising development for Nigeria's energy sector, which has faced challenges in meeting domestic gas demand. However, the report also highlights a decline in statutory payments, which fell to N726 billion from N1.27 trillion in the previous month. This decrease in statutory payments is a factor that contributed to the overall decline in NNPC's revenue. The volatility in NNPC's revenue is a recurring theme in Nigeria's petroleum earnings. The sharp contraction in monthly earnings despite improved production and sales volumes suggests that other factors may be at play. While the report does not provide a clear explanation for the decline, it is essential to consider the broader economic context, including global market trends and Nigeria's energy policies. As Nigeria continues to navigate the challenges of its energy sector, the NNPC's revenue report serves as a reminder of the need for sustainable and stable revenue streams. With improved production and sales volumes, the NNPC can work towards achieving this goal and contributing to Nigeria's economic growth.