NNPC Records Strong Revenue Jump as Profit Rises to ₦481bn in April 2026
The Nigerian National Petroleum Company Limited (NNPC Ltd.) posted a significant improvement in both revenue and profitability in April 2026, supported by higher crude oil production and stronger operational performance across its upstream and gas businesses.
According to its April 2026 operational and financial report released on Saturday, the company’s revenue rose sharply to ₦4.97 trillion, up from ₦2.77 trillion recorded in March — a 79% month-on-month increase.
The performance reflects a strong start to the second quarter of the year, as the national oil company continues efforts to boost production levels, improve efficiency, and expand critical gas infrastructure across the country.
NNPC also recorded a rise in profit after tax, which increased to ₦481 billion in April from ₦276 billion in March, showing improved financial performance within the period under review.
Crude oil and condensate production also improved, rising to 1.68 million barrels per day in April compared to 1.56 million barrels per day in March. This increase played a key role in the company’s stronger revenue performance.
Between January and April 2026, NNPC said it remitted ₦3.71 trillion in statutory payments to the Federal Government, up from ₦2.89 trillion recorded in the first quarter, underscoring its growing contribution to national revenue.
In the gas sector, production remained steady at 7.7 billion standard cubic feet per day, while gas sales averaged 4.65 billion standard cubic feet per day during the period. Pipeline availability was maintained at 79%, reflecting relatively stable operations.
The company also confirmed the completion of the River Niger crossing section of the OB3 gas pipeline project, while work continues on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline — a major infrastructure project expected to improve gas distribution across the country and support industrial growth.
NNPC said the improvements in both oil and gas operations reflect ongoing reforms aimed at strengthening output, expanding infrastructure, and enhancing overall efficiency in the energy sector.
The strong performance comes at a time when Nigeria is intensifying efforts to increase crude production, boost foreign exchange inflows, and improve fiscal stability.
However, despite the gains, industry challenges such as operational risks and infrastructure constraints remain key factors that could affect sustained production growth and project delivery timelines.
