- April Performance Shows N205bn Increase in Profit, 79% Revenue Growth and Higher Crude Production
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has reported a Profit After Tax (PAT) of N481 billion for April 2026, reflecting a significant increase from the N276 billion recorded in March.
According to the company’s April Monthly Report Summary released on its official X platform, the latest performance represents a 74.3 per cent month-on-month increase in profitability, underscoring stronger operational and financial performance across its business segments.
The report also showed that NNPC Ltd’s revenue rose sharply to N4.971 trillion in April, compared to N2.77 trillion recorded in March. This represents a 79.23 per cent increase, highlighting improved earnings from its upstream and downstream operations.
Crude oil and condensate production similarly recorded growth during the month. Production increased to 1.68 million barrels per day (mmbopd), up from the March level and representing a 7.69 per cent increase.
While oil production improved, gas output remained largely stable. The company reported gas production of 7,730 million standard cubic feet per day (mmscf/d) in April, marginally below the 7,731 mmscf/d recorded in March.
NNPC Ltd further disclosed that cumulative statutory payments between January and April 2026 reached N3.714 trillion, reflecting its continued contribution to government revenues and national economic development.
Among its major achievements during the reporting period, the company highlighted the successful completion of the OB3 River Niger Crossing project, a critical infrastructure component expected to strengthen gas transportation across the country.
The report also noted continued progress on the construction and installation of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project. According to the company, work is advancing toward the objective of achieving early gas delivery to Abuja within 2026.
NNPC Ltd said the projects form part of broader strategic initiatives aimed at strengthening Nigeria’s energy infrastructure, improving operational efficiency, enhancing gas supply and supporting the nation’s long-term energy security objectives.
The April performance figures reinforce the company’s recent drive to improve production, expand infrastructure and increase revenue generation amid ongoing reforms in Nigeria’s oil and gas sector.
