The Nigerian National Petroleum Company Limited (NNPCL) recorded a significant rise in revenue in April 2026, with earnings climbing to N4.971 trillion from N2.774 trillion reported in March, representing a 79.23 per cent increase.
This was contained in the company’s latest monthly financial and operational performance report released on Saturday.
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The state-owned oil company also reported a sharp rise in profit after tax, which increased by about 74.28 per cent to N481 billion during the review period.
According to the April 2026 Monthly Report Summary, the improved financial performance was largely driven by stronger operational results, especially in crude oil and condensate production.
The report showed that crude oil and condensate output rose to 1.68 million barrels per day (mmbopd), marking a 7.69 per cent increase compared to production figures recorded in March 2026.
Gas production, however, remained relatively unchanged at 7,730 million standard cubic feet per day (mmscf/d), slightly below the 7,731 mmscf/d achieved in the previous month.
NNPCL further disclosed that it made cumulative statutory remittances of N3.714 trillion between January and April 2026.
Highlighting major infrastructure achievements, the company announced the completion of the OB3 River Niger Crossing project, a key gas infrastructure development expected to improve gas transmission and supply nationwide.
The report also indicated that construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project were progressing steadily.
According to the company, work on the AKK pipeline is targeted at delivering “early gas to Abuja” within 2026, an initiative expected to boost domestic gas utilisation and support growth in the industrial and power sectors.
NNPCL stated that the monthly report was aimed at providing updates on its financial performance, operational activities and strategic projects designed to strengthen energy security and expand Nigeria’s gas infrastructure network.
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