NNPCL Sees Significant Surge in Earnings, Reaching 4.971 Trillion in April

Nigerian National Petroleum Company Limited (NNPCL) saw its revenue jump by 79.23 percent in April 2026, reaching N4.971 trillion, up from N2.774 trillion the previous month, as stated in its latest financial and operational report.

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The company's profit after tax also experienced a significant increase of 74.28 percent, amounting to N481 billion for the month, according to the report released by the state-owned energy company.

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The April 2026 Monthly Report Summary, released on Saturday, revealed improvements in key operational areas, particularly in the production of crude oil and condensate, which rose to 1.68 million barrels per day (mmbopd), a 7.69 percent increase from the March 2026 production level.

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Gas production remained relatively stable at 7,730 million standard cubic feet per day (mmscf/d), slightly lower than the 7,731 mmscf/d recorded in March, as reported by NNPCL.

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Between January and April 2026, NNPCL made cumulative statutory payments of N3.714 trillion, as disclosed in the report, which also highlighted significant infrastructure milestones achieved during this period.

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The report noted the completion of the OB3 River Niger Crossing project, a crucial gas infrastructure component expected to enhance gas supply and transmission across the country, as well as progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project.

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Construction and installation work on the AKK pipeline is aimed at achieving "early gas to Abuja" within 2026, which is expected to strengthen domestic gas utilisation and support industrial and power sector growth, according to NNPCL.

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The monthly report provides updates on the company's financial performance, operational activities, and strategic initiatives focused on improving energy security and expanding Nigeria's gas infrastructure, as stated by NNPCL.