The Nigerian National Petroleum Company Limited (NNPCL) recorded a sharp increase in revenue and profit in April 2026, supported by improved crude oil production and stronger operational performance across its upstream assets.
According to the company’s latest Monthly Report Summary, revenue climbed to N4.97 trillion in April from N2.77 trillion recorded in March, representing a 79 percent month-on-month increase.
Profit after tax also rose significantly during the period, increasing from N276 billion in March to N481 billion in April, reflecting a growth of about 74 percent.
The report further showed that NNPCL’s cumulative statutory remittances to the federation rose to N3.71 trillion as of April, compared with N2.89 trillion recorded in March, indicating an increase of N826 billion.
Operational data revealed that average crude oil and condensate production increased to 1.68 million barrels per day (mbpd) in April, up from 1.56 mbpd in March.
Of the total output, crude oil production accounted for approximately 1.43 million barrels per day, while condensate production contributed about 250,000 barrels per day.
NNPCL attributed the production improvement largely to better facility uptime across its upstream operations. Pipeline availability also improved from 76 percent in March to 79 percent in April.
Despite the gains, the company noted that production was affected by delays in restarting the Trans Ramos Pipeline following turnaround maintenance, as well as facility integrity challenges in some operational assets.
“Month-on-month production performance was driven largely by improved facilities uptime. April performance was, however, impacted by the delayed start-up of the Trans Ramos Pipeline post-completion of turnaround maintenance due to identified leaks and other facility integrity issues in some assets,” the report stated.
Gas production remained broadly stable during the month, averaging 7,730 million standard cubic feet per day (mmscf/d), compared with 7,731 mmscf/d in March.
Similarly, average gas sales stood at 5,044 mmscf/d in April, slightly lower than the 5,059 mmscf/d recorded in the previous month.
The report also highlighted continued progress on major gas infrastructure projects. The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project reached 94 percent completion in April, up from 93 percent in March, while the OB3 Gas Pipeline project maintained a completion level of 96 percent.
However, NNPCL recorded a decline in petrol availability across its retail network. The availability rate at NNPCL filling stations fell to 54 percent in April from 56 percent in March.
The company did not provide further details on the factors responsible for the reduction in retail station availability.