NNPC Revenue Surges 79% to ₦4.97trn in April

The Nigerian National Petroleum Company Limited (NNPC Ltd.) reported a sharp rise in revenue and profitability in April 2026, driven by higher crude oil output and stronger operational performance.

According to its latest operational and financial report, revenue surged to ₦4.97 trillion in April, up from ₦2.77 trillion in March, representing a 79% month-on-month increase.

Profit after tax also rose significantly, reaching ₦481 billion, compared with ₦276 billion in March. Crude oil and condensate production climbed to 1.68 million barrels per day, up from 1.56 mbpd in the previous month.

Between January and April 2026, NNPC remitted ₦3.71 trillion in statutory payments to the Federal Government, an improvement from ₦2.89 trillion in Q1 2026, underscoring its stronger contribution to public finances.

Natural gas operations remained stable, with production at 7.7 billion standard cubic feet per day (bscf/d) and sales averaging 4.65 bscf/d. Pipeline availability was maintained at 79%, while the company completed the River Niger crossing segment of the OB3 pipeline and advanced work on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project.

NNPC said these projects are critical to expanding gas supply, supporting industrial development, and advancing Nigeria’s energy transition goals.

The company noted that higher crude oil output is vital to meeting government revenue targets, while progress on gas infrastructure will improve domestic utilization and attract investment into power generation and industry.

Despite the gains, NNPC acknowledged that operational challenges such as crude theft and pipeline vandalism continue to pose risks to production growth and infrastructure delivery timelines.