The Nigerian National Petroleum Company Limited (NNPC) recorded an upsurge in revenue in April 2026 just as it witnessed a significant recovery in upstream production.
The NNPC monthly report for April 2026, released on Saturday, indicates that its revenue rose by 79 per cent to ₦4.971 trillion in April from ₦2.774 trillion recorded in March.
The report also shows that profit after tax rose by 74.3 per cent to ₦481 billion in April, compared with ₦276 billion in March.
The report also reveals that NNPC remitted a total of ₦3.714 trillion in statutory payments to the Federal Government from January to April 2026.
This follows a strong first-quarter performance where total revenue reached ₦8.024 trillion and profit after tax hit ₦797 billion over the three-month period.
Oil Output Increases in April
According to the NNPC report, Nigeria’s crude oil and condensate production rose to an average of 1.68 million barrels per day (bpd) in April 2026, driven largely by stronger output from Bonny, Forcados, and Bonga terminals.
This reflects a 7.7 per cent month-on-month increase from 1.56 million bpd recorded in March.
Despite the improvement, Nigeria still fell slightly short of its OPEC quota of 1.5 million bpd for crude oil, achieving about 99 per cent of its allocation.
Gas production stood at 7,730 million standard cubic feet per day (mmscf/d), a slight drop from 7,731 mmscf/d in March.
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Crude oil and condensate sales in April rose to 23.65 million barrels. This is an increase of 36.94 per cent from 17.27 million barrels sold in March.
Gas sales saw a slight drop from 5059 mmscf/d in March to 5044 mmscf/d in April.
Infrastructure Developments & Challenges
NNPC confirmed the successful completion of the critical Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger Crossing segment, a major breakthrough expected to drastically improve gas transmission across regional networks.
“We have successfully completed the OB3 River crossing after relentless efforts from all critical stakeholders, thus bringing Nigeria closer to the realization of its strategic gas infrastructure development ambitions and assuring its energy security,” it stated.
It also stated that there is ongoing collaboration with stakeholders to progress the construction and installation works on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, with a target to deliver “early gas to Abuja” before the end of 2026.
The report shows that upstream pipeline availability averaged 79 per cent, up from 76 per cent in March.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in Mass Communication. He can be reached via @VICTOREZEJA on X