ABUJA, Nigeria (VOICE OF NAIJA)-The Nigerian National Petroleum Company Limited recorded a strong improvement in its financial performance in April 2026, with revenue climbing to N4.97tn from N2.77tn in March.
According to the company’s April 2026 operational and financial report released on Saturday, the increase represents a month-on-month growth of about 79 per cent.
The report also showed a sharp rise in profit after tax, which grew to N481bn in April from N276bn recorded in March, reflecting an increase of approximately 74 per cent.
NNPC further disclosed that it remitted N3.71tn in statutory payments to the Federal Government between January and April 2026, up from N2.89tn recorded in the first quarter of the year.
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The company’s upstream operations also posted gains, with crude oil and condensate production rising to 1.68 million barrels per day in April from 1.56 million barrels per day in March.
Natural gas production remained steady at 7.7 billion standard cubic feet per day, while gas sales averaged 4.65 billion standard cubic feet daily. Upstream pipeline availability was recorded at 79 per cent.
On infrastructure development, the national oil company said it achieved a key milestone with the successful crossing of the OB3 River Niger pipeline segment, a project considered critical to Nigeria’s gas expansion agenda. Work also progressed on the Ajaokuta-Kaduna-Kano gas pipeline project.
Despite the positive performance, NNPC reported challenges affecting the planned start-up of the Trans Ramos Pipeline, citing leak detection concerns and facility integrity issues.
The NNPC Foundation also continued its social intervention programmes during the month. On April 29, it commissioned three fully rehabilitated wards comprising 102 beds at the National Orthopaedic Hospital, Lagos.
In addition, the foundation provided relief materials to flood victims in Mokwa, Niger State, and trained 72,657 members of the National Youth Service Corps in basic financial literacy during the period under review.