The Nigerian National Petroleum Company Limited (NNPCL) generated N4.971 trillion in revenue for April 2026. This marks a sharp 79.23% increase from the N2.774 trillion recorded in March.
The state-owned energy firm also reported a 74.28% surge in profit after tax. Net earnings climbed to N481 billion, up from N276 billion posted the previous month.
Increased upstream asset availability drove the recovery. Combined crude oil and condensate production rose 7.69% month-on-month to hit 1.68 million barrels per day, compared to March’s 1.56 million barrels.
Crude oil accounted for 1.43 million barrels daily, while condensates added 0.25 million. Total sales volumes rebounded to 23.65 million barrels from a 12-month low of 17.27 million.
“Month-on-month production performance was driven largely by improved facilities uptime,” NNPC Ltd. stated in its report. Upstream pipeline availability increased slightly from 76% to 79% during the month.
However, the national oil company disclosed that persistent facility integrity issues capped further expansion. Technical leaks delayed the start-up of the Trans Ramos Pipeline following its turnaround maintenance.
Natural gas output remained stable at 7,730 million standard cubic feet per day. The company recorded an average gas sales figure of 5,044 million standard cubic feet.
The financial rebound significantly enhanced government funding. Total statutory remittances to the Federation Account reached N3.714 trillion for the first four months of the year, adding N826 billion in April alone.
The performance coincides with infrastructural milestones, including completing the critical River Niger crossing segment for the Obiafu-Obrikom-Oben gas pipeline, which recorded 96% availability.
Progress was also tracked on the Ajaokuta-Kaduna-Kano mainline. The company maintained its operational deadline to deliver early gas to the Federal Capital Territory before the end of December.
