The Nigerian National Petroleum Company Limited reported a sharp month-on-month increase in revenue and profit in April 2026, driven by higher production and improved operational performance.
The company said revenue rose to N4.97 trillion in April, up from N2.77 trillion in March, representing an increase of about 79%.
Profit after tax also increased to N481 billion in April, compared with N276 billion in March, a rise of about 74%, according to its April operational and financial report released Saturday.
Between January and April 2026, the company said it remitted N3.71 trillion to the federal government, up from N2.89 trillion recorded in the first quarter of the year.
Crude oil and condensate production rose to 1.68 million barrels per day in April, compared with 1.56 million barrels per day in March, indicating a modest recovery in upstream output.
Natural gas production remained stable at 7.7 billion standard cubic feet per day, while gas sales averaged 4.65 billion standard cubic feet per day. Upstream pipeline availability stood at 79%.
The company said it achieved a key infrastructure milestone with the successful crossing of the OB3 River Niger pipeline segment, advancing work on Nigeria’s gas infrastructure network. It also said progress continued on the Ajaokuta-Kaduna-Kano gas pipeline project.
However, it noted operational challenges, including delays in the start-up of the Trans Ramos Pipeline due to leak detection and facility integrity issues.
The company’s social investment arm also carried out several initiatives in April, including the commissioning of three rehabilitated wards with 102 beds at the National Orthopaedic Hospital in Lagos.
It said it also provided humanitarian assistance to flood victims in Mokwa, Niger State, and trained 72,657 members of the National Youth Service Corps in basic financial literacy.
