The Nigerian National Petroleum Company Limited (NNPCL) recorded a Profit After Tax (PAT) of N481 billion in April 2026, reflecting a significant increase in earnings driven by higher crude oil production and stronger revenue performance.
According to the company’s April Monthly Report Summary, revenue rose sharply to N4.971 trillion during the month, representing a substantial increase from the N2.774 trillion recorded in March. The improved financial performance was attributed largely to growth in crude oil and condensate production as well as operational efficiency across key assets.
NNPCL reported that crude oil and condensate output climbed to 1.68 million barrels per day in April, up from 1.56 million barrels per day in March. The increase marked one of the company’s strongest production performances in recent months and signaled continued efforts to boost Nigeria’s oil output.
The company disclosed that crude oil accounted for approximately 1.43 million barrels per day of total production, while condensate contributed about 250,000 barrels per day. Despite the improvement, NNPCL noted that operations were still affected by delays in the restart of some pipeline infrastructure and other facility integrity challenges.
Gas production remained largely stable during the period at about 7,730 million standard cubic feet per day, maintaining levels similar to those recorded in March. The company said ongoing investments in gas infrastructure continue to support its long-term strategy of expanding domestic gas supply and strengthening energy security.
NNPCL also revealed that cumulative statutory payments to the federation between January and April 2026 reached N3.714 trillion, highlighting its contribution to government revenue during the period.
Among the major milestones recorded in April was the completion of the OB3 River Niger Crossing Project, a critical component of Nigeria’s gas infrastructure network. The company further reported continued progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project, which is expected to support increased gas delivery and industrial development across the country.
The latest figures reflect improving operational performance by the state-owned energy company as it continues efforts to increase production, strengthen infrastructure, and enhance revenue generation within Nigeria’s oil and gas sector.
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