The Nigerian National Petroleum Company Limited (NNPCL) recorded a 4.24% increase in revenue for February 2026, rising to N2.68 trillion from N2.57 trillion in January, according to its monthly financial and operational report released on April 11, 2026.
The revenue growth was highlighted in the company’s official statement, which noted that the figure includes key operational and financial indicators for the period. However, profitability took a significant hit, with profit after tax falling sharply to N136 billion from N385 billion in the previous month — a decline of N249 billion.
Despite the drop in profit, NNPCL described the overall performance as reflective of its ongoing efforts to maintain operational stability amid various challenges.
On the production front, the company reported mixed results. Crude oil and condensate output averaged 1.51 million barrels per day (mmbopd), down from 1.64 mmbopd in January — a decrease of about 130,000 barrels per day. The company attributed the decline to several operational setbacks, including the outage of the Trans Forcados Pipeline due to integrity issues, start-up challenges at the Stardeep Agbami GTC 2 & 3 following turnaround maintenance, delayed completion of the Sterling Oguali flow station, and production ramp-up constraints at Enyie wells due to sludge management issues.
In contrast, natural gas production rose to 7,458 million standard cubic feet per day (mmscf/d), representing a 2.40% increase from the previous month.
NNPCL also highlighted progress on key infrastructure projects during the period, including advancements on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and continued drilling works on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger Crossing.
The revenue growth comes at a time when the national oil company is navigating a complex operating environment characterised by pipeline disruptions, maintenance activities, and efforts to ramp up domestic refining capacity.
The latest figures provide insight into NNPCL’s financial and operational performance as it continues to play a central role in Nigeria’s oil and gas sector, supporting both export earnings and domestic energy supply.
Market observers will be watching closely to see how the company manages production challenges and leverages infrastructure developments to sustain revenue growth and improve profitability in the coming months.
