The Nigerian National Petroleum Company Limited (NNPC Ltd.) at the weekend reported that it recorded a sharp increase in revenue and profitability in April 2026, driven by improved crude oil production and stronger operational performance.
The company’s ‘April 2026 Operational and Financial Report’ which was released on Saturday, showed that the state-controlled oil company’s revenue rose from N2.77 trillion in March to N4.97 trillion in April this year, representing a month-on-month increase of about 79%.
The financial and operational indicators reflected significant improvements in its revenue generation due to higher oil production and increased government remittances.
Specifically, data in the monthly report revealed that the company’s Profit after tax (PAT) rose to N481 billion, compared to N276 billion recorded in the previous month while Crude oil and condensate production increased to 1.68 million barrels per day in April from 1.56 million barrels per day in March.
- Advertisement -
The NNPCLclarified that between January and April 2026, the company remitted N3.71 trillion in statutory payments to the Federal Government, up from N2.89 trillion recorded in the first quarter of the year, reflecting improved remittancr by the company to government revenues amid ongoing efforts to improve production levels and operational efficiency.
Similarly, the report showed that crude oil production improved during the month, natural gas operations remained stable based on its ongoing revitalization mves recorded across major gas infrastructure projects.
The figures revealed that in the month under review, the company’s natural gas production stood at 7.7 billion standard cubic feet per day (bscf/d); gas sales averaged 4.65 bscf/d the Upstream pipeline availability was maintained at 79%.during the period under review.
The report also showed that the company successfully completed the River Niger crossing segment of the OB3 gas pipeline project, and that the company was making progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project.
