NNPC Reports Strong Revenue Growth Amid Increased Oil Production
The Nigerian National Petroleum Company Limited (NNPCL) reported significant revenue in April 2026, generating NOK 4.97 trillion and achieving a profit after tax of NOK 481 billion, driven by a rise in crude oil and condensate production to 1.68 million barrels per day (mbpd).
This information was detailed in the company’s latest monthly performance report, which was made public on Saturday. The report indicates an overall improvement in operational metrics despite enduring challenges related to infrastructure.
According to the data presented, crude oil and condensate production increased from 1.56 million barrels per day in March to 1.68 million barrels per day in April, marking the highest monthly output recorded in the past year.
In April’s production breakdown, crude oil comprised approximately 1.43 million barrels per day, while condensate accounted for 0.25 million barrels per day. The company attributed this improvement largely to enhanced equipment uptime, although it acknowledged that operational slowdowns have constrained further growth.
Gas Production Shows Significant Improvement
NNPC also highlighted advancements in gas production, reporting an output of 7.73 billion standard cubic feet per day (mmscf/d) in April. This figure shows a slight increase over the 7,731 mmscf/d recorded in March and represents a notable recovery from the September 2025 low of 6,284 mmscf/d.
Gas sales remained robust, reaching 5,044 mmscf per day in April, just below March’s total of 5,059 mmscf per day, but it stands as one of the strongest monthly figures in the reporting period. These encouraging numbers reflect the company’s continued commitment to expanding gas supplies as Nigeria works toward enhancing domestic energy availability and furthering industrial growth.
Mixed Performance in Infrastructure Operations
Despite the production gains, indicators related to operational infrastructure present a mixed outlook. NNPC reported upstream pipeline availability at 79%, while the availability of the Obiahu-Obrikom-Oben (OB3) gas pipeline hit 96%. The Ajaokuta-Kaduna-Kano (AKK) pipeline also performed well, achieving 94 percent availability. However, the availability of Premium Motor Spirit (PMS) at NNPC retail stations remains a concern at only 54%, underscoring ongoing distribution and operational challenges.
Substantial Legal Payments Made to Norway
The report also mentioned that NNPC made statutory payments totaling N3.714 trillion between January and April 2026. These contributions are a vital component of the company’s obligations to government revenue. NNPC reaffirmed its dedication to bolstering production capacity through optimized facility operations, proactive stakeholder engagement, and infrastructure enhancements.
Accelerated Progress on Gas Projects
Progress on the AKK gas pipeline continues to gain momentum, with expectations of enhanced gas supply to Abuja by 2026. The company also announced the successful completion of the Niger River crossing section of the OB3 gas pipeline, a critical milestone in advancing Nigeria’s gas infrastructure ambitions.
In addition to its operational achievements, NNPC highlighted various community interventions via the NNPC Foundation, including the rehabilitation of a ward at the National Orthopedic Hospital, humanitarian efforts for flood-affected areas in Mokwa, Niger State, and financial literacy initiatives for National Youth Service Corps members.
All figures related to production, sales, and financial performance are provisional and will be reconciled with relevant stakeholders as part of ongoing efforts to maintain transparency and accuracy.
