The Nigerian National Petroleum Company Limited (NNPCL) posted impressive financial results in April 2026, generating N4.97 trillion in revenue and a profit after tax of N481 billion.
The company disclosed these figures in its monthly performance report released on Saturday, showing modest operational improvements despite persistent infrastructure constraints.
Production Improves
Crude oil and condensate output rose to 1.68 million barrels per day (mbpd) in April, up from 1.56 mbpd in March. This represents the highest monthly production level recorded in the past 12 months. Crude oil contributed 1.43 mbpd while condensate added 0.25 mbpd.
NNPCL attributed the increase largely to improved facility uptime, although it noted that production was still hampered by technical issues, including delays in restarting the Trans Ramos Pipeline after maintenance.
Strong Gas Performance
Gas production stood at 7,730 million standard cubic feet per day (mmscf/d) in April, marginally higher than the previous month. Gas sales remained robust at 5,044 mmscf/d, reinforcing the company’s push to boost domestic gas supply and support industrial development.
Sales Rebound
Crude oil and condensate sales recovered sharply to 23.65 million barrels in April, a significant improvement from the 17.27 million barrels sold in March.
Mixed Infrastructure Performance
Pipeline availability showed varied results. While upstream pipelines operated at 79% availability, the OB3 gas pipeline recorded 96% and the AKK pipeline 94%. However, petrol availability at NNPC retail stations remained low at only 54%, indicating continued challenges in product distribution.
Statutory Payments
NNPCL remitted a total of N3.714 trillion in statutory payments to the government between January and April 2026.
Ongoing Projects
The company is making steady progress on key gas infrastructure projects. Work continues on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline, with expectations of delivering gas to Abuja later in 2026. The River Niger crossing segment of the OB3 gas pipeline has also been successfully completed.
Through the NNPC Foundation, the company carried out several social initiatives, including rehabilitation of medical wards at the National Orthopaedic Hospital, support for flood victims in Mokwa, Niger State, and financial literacy training for NYSC members.
Overall, NNPCL’s April performance reflects improving production momentum and strong financial results, even as the company continues to address infrastructure bottlenecks and distribution challenges in the downstream sector.
