KEY POINTS
- NNPC’s revenue rose by 79% to N4.97 trillion in April 2026, while profit after tax increased by 74% to N481 billion.
- Crude oil and condensate production improved to 1.68 million barrels per day, with gas production remaining stable at 7.7 billion standard cubic feet daily.
- The company remitted N3.71 trillion to the Federal Government between January and April and recorded progress on major gas infrastructure projects.
The Nigerian National Petroleum Company Limited, NNPC recorded a sharp increase in its financial performance in April 2026, with revenue rising to N4.97 trillion from N2.77 trillion in March.
According to the company’s April 2026 operational and financial report released on Saturday, the increase represents a month-on-month growth of approximately 79 per cent, highlighting stronger earnings across its operations.
The report further revealed that NNPC remitted a cumulative N3.71 trillion in statutory payments to the Federal Government between January and April 2026.
This represents an increase from the N2.89 trillion remitted during the first quarter of the year, underscoring the company’s growing contribution to national revenue.
Crude Oil Production Records Modest Growth
On the operational front, crude oil and condensate production rose to 1.68 million barrels per day in April, compared to 1.56 million barrels per day in March.
The increase points to a gradual recovery in upstream activities amid ongoing efforts to boost production levels and address challenges affecting output.
Natural gas production remained relatively stable at 7.7 billion standard cubic feet per day during the month. Gas sales averaged 4.65 billion standard cubic feet daily, while upstream pipeline availability stood at 79 per cent.
NNPC highlighted major advancements in its gas infrastructure development programme during April.
One of the notable achievements was the successful completion of the River Niger crossing segment of the OB3 gas pipeline project, a key milestone expected to strengthen gas transportation and supply across the country.
The company also reported continued progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project, which is designed to expand access to natural gas and support industrial development.
Despite the positive performance, NNPC acknowledged challenges in some areas of its operations.
The company disclosed that the planned start-up of the Trans Ramos Pipeline experienced delays due to leak detection concerns and facility integrity issues, which are currently being addressed.
