The Nigerian National Petroleum Company Limited (NNPC) recorded an improvement in its financial and operational performance in April 2026, with revenue rising by more than 79.2 per cent month-on-month to N4.971 trillion, driven largely by higher crude oil production.
Specifically, data released on Saturday, including the NNPC Monthly Report Summary for April 2026, showed that the national oil company raised its monthly revenue to N4.971 trillion in April, up from N2.774 trillion in March.
The revenue growth was accompanied by a substantial rise in profitability, with Profit After Tax (PAT) increasing from N276 billion in March to N481 billion in April. The N205 billion increase translated into a 74.3 percent month-on-month growth, according to a THISDAY analysis.
According to the report, total statutory payments to the federation this year also rose significantly, climbing from N2.888 trillion as of March to N3.714 trillion in April, an increase of N826 billion, or 28.6 per cent.
Operationally, NNPC posted higher crude oil and condensate production in April, with average daily output rising to 1.68 million barrels per day (mbpd), up from 1.56 mbpd in March. The increase of 120,000 barrels per day represented a 7.7 per cent improvement and marked one of the strongest production performances recorded by the company in recent months.
A breakdown of the production figures showed that crude oil accounted for approximately 1.43 million bpd, while condensate production contributed about 0.25 million bpd during the month under consideration.
The improvement reversed some of the production constraints experienced earlier in the year. It strengthened hopes that Nigeria could continue its gradual recovery towards higher crude output levels before the end of the year.
The NNPC data showed that the company’s April performance was supported by improved facility uptime and ongoing programmes to boost production efficiency. Upstream pipeline availability increased from 76 percent in March to 79 per cent in April, reflecting a 3.95 per cent improvement.
The report noted, however, that output was still affected by the delayed restart of the Trans Niger Pipeline (TNP) following the completion of turnaround maintenance, as well as other facility integrity issues in some assets.
“Month-on-month production performance was driven largely by improved facilities uptime. April performance was, however, impacted by the delayed start-up of Trans Ramos Pipeline (TRP) post completion of Turn Around Maintenance due to identified leaks and other facility integrity issues in some assets,” the NNPC data showed.
Despite those challenges, production levels remained above March levels, underscoring the impact of recovery efforts across upstream operations.
Besides, gas production remained largely stable, with the NNPC reporting an average of 7,730 million standard cubic feet per day (mmscf/d) in April, compared with 7,731 mmscf/d in March.
Although the figure represented a marginal decline of just 1 million cubic feet per day, effectively flat at about 0.01 percent, it demonstrated strong gas output levels amid ongoing operational challenges.
Average gas sales were 5,044 mmscf/d in April, compared with 5,059 mmscf/d in March.
Also, the April report highlighted continued progress on strategic gas infrastructure projects considered critical to Nigeria’s long-term energy security and industrialisation plans.
On the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project, the NNPC said collaboration with stakeholders continued to advance construction and installation activities, with the project recording 94 per cent completion in April, up from 93 per cent in March.
Similarly, the OB3 gas pipeline project maintained a 96 percent completion rate in April, unchanged from March.
An area that declined was the availability of NNPC Retail petrol stations nationwide. The report showed that petrol availability fell from 56 per cent in March to 54 per cent in April, representing a decline of about 3.6 per cent. The company did not provide detailed reasons for the reduction.
Emmanuel Addeh
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