By Kelechi Onwujuba
The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a strong financial and operational performance in April 2026, posting revenue of N4.97 trillion and a profit after tax of N481 billion amid improved crude oil production and steady gas output.
According to the company’s latest Monthly Report Summary, crude oil and condensate production rose to 1.68 million barrels per day (mbpd) in April, up from 1.56 mbpd recorded in March, marking the highest monthly output level within the 12-month reporting period. The improvement was attributed largely to enhanced facility uptime and sustained production recovery efforts across upstream assets.
The report also showed that crude oil and condensate sales stood at 23.65 million barrels during the month, while natural gas production remained stable at approximately 7.73 billion standard cubic feet per day (bscf/d). Gas sales averaged 5.04 billion standard cubic feet per day, underlining the growing importance of gas in Nigeria’s energy transition and domestic energy security agenda.
NNPC’s revenue performance represented a significant jump from the N2.77 trillion reported in March, while profit after tax increased by more than 74 per cent from N276 billion recorded in the previous month. The company said cumulative statutory payments to the Federation Account reached N3.71 trillion between January and April 2026.
On the infrastructure front, NNPC announced the successful completion of the River Niger crossing segment of the Obiafu-Obrikom-Oben (OB3) gas pipeline project, a key milestone expected to strengthen gas transportation and supply reliability across the country. Progress also continued on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project, with the company targeting early gas delivery to Abuja in 2026.
Operational indicators showed mixed results, with upstream pipeline availability standing at 79 per cent during the month. The company, however, noted that some projects experienced delays due to leak detection challenges, facility integrity issues and other operational constraints.
Despite these challenges, the April report reflects improving momentum in Nigeria’s oil and gas sector as production levels gradually recover. Industry analysts say sustaining the gains will depend on continued investment in infrastructure, effective security measures against crude theft and the timely completion of strategic gas projects.
The latest figures reinforce NNPC’s ambition to strengthen energy security, boost government revenue and accelerate gas-based industrial development, even as the company navigates persistent operational and market challenges in the sector.
