NNPC Posts N481bn Profit in April as Revenue Nears N5tn

The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a Profit After Tax (PAT) of N481 billion in April 2026, reflecting a significant increase from the N276 billion reported in March.

The state-owned energy company disclosed this in its April Monthly Report Summary released on its official X handle on Sunday.

According to the report, crude oil and condensate production rose to 1.68 million barrels per day (mbpd) in April, representing a 7.69 per cent increase compared to the previous month.

NNPC Ltd. also reported a sharp rise in revenue, which climbed to N4.971 trillion in April from N2.77 trillion in March, marking a 79.23 per cent increase.

Gas production remained largely unchanged during the period, standing at 7,730 million standard cubic feet per day (mmscf/d), compared to 7,731 mmscf/d recorded in March.

The company said cumulative statutory payments between January and April 2026 reached N3.714 trillion, underscoring its contribution to government revenue.

Among its key achievements during the month, NNPC highlighted the successful completion of the OB3 River Niger Crossing project, a critical infrastructure development aimed at boosting gas transportation across the country.

The report also noted steady progress on the construction and installation of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project, with efforts focused on achieving early gas delivery to Abuja before the end of 2026.

NNPC said it continued to implement strategic initiatives designed to strengthen Nigeria’s energy infrastructure, improve operational efficiency, and support long-term growth in the oil and gas sector.