FAAC Report: NNPC Exported ₦149.6bn Crude Oil in July, Recorded Zero Domestic Sales

The Federation Account Allocation Committee (FAAC) has reported that the Nigerian National Petroleum Company Limited (NNPC) exported 1.27 million barrels of crude oil valued at ₦149.6 billion in July 2026, despite recording zero domestic sales during the same period.

The disclosure is contained in a report by FAAC’s technical sub-committee dated October 14, 2026, and obtained by *TheCable*.

According to the report, an NNPC representative informed the committee that the company exported 1.27 million barrels of crude oil in July, with a reported sales value of $112.38 million, equivalent to ₦149.6 billion.

The reported figures raise questions about NNPC’s domestic crude sales during the period, particularly amid ongoing public interest in crude supply to local refineries and the country’s efforts to strengthen domestic refining capacity.

However, the report, as quoted, did not provide further details explaining why NNPC recorded no domestic crude sales in July or whether the figure covered all domestic supply arrangements.