By Boluwatife Oshadiya | June 1, 2026
Key Points
- NNPC Ltd recorded a Profit After Tax of N481 billion in April 2026, up from N276 billion in March
- Revenue rose by 79.2% to N4.97 trillion, supported by higher crude oil production
- Crude oil and condensate output increased to 1.68 million barrels per day, while major gas infrastructure projects advanced
Main Story
The Nigerian National Petroleum Company Limited (NNPC Ltd.) reported a Profit After Tax (PAT) of N481 billion for April 2026, reflecting a significant increase from the N276 billion recorded in March, according to the company’s latest Monthly Report Summary.
The state-owned energy company also posted revenue of N4.971 trillion during the month, representing a 79.23 per cent increase from the N2.77 trillion generated in March. The improved earnings were supported by stronger crude oil production and continued operational performance across its upstream and gas businesses.
NNPC said crude oil and condensate production rose to 1.68 million barrels per day (mmbopd) in April, up 7.69 per cent from the previous month’s output. Gas production remained largely unchanged at 7,730 million standard cubic feet per day, compared with 7,731 million standard cubic feet per day in March.
The company further disclosed that cumulative statutory payments between January and April 2026 reached N3.714 trillion, underlining its role as one of Nigeria’s largest contributors to government revenue.
“The successful completion of the OB3 River Niger Crossing project and continued progress on the AKK Gas Pipeline underscore our commitment to strengthening Nigeria’s energy infrastructure and enhancing gas supply across the country,” NNPC Ltd said in the report.
Among the key milestones highlighted was the completion of the long-delayed OB3 River Niger Crossing project, a critical component of Nigeria’s domestic gas transportation network. The company also reported continued construction and installation activities on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project, with plans to commence early gas delivery to Abuja later in 2026.
The Issues
The strong earnings performance comes as Nigeria seeks to boost oil production above 2 million barrels per day and maximise revenues amid ongoing fiscal pressures. Although output has improved in recent months, production levels remain below the country’s OPEC quota and historical peak levels.
The completion of major gas infrastructure projects such as OB3 and AKK is also central to Nigeria’s gas monetisation strategy, which aims to expand domestic gas supply, support industrialisation and improve electricity generation.
What’s Being Said
“The increase in production and revenue reflects ongoing efforts to improve operational efficiency and strengthen energy infrastructure across the value chain,” NNPC Ltd said in its April Monthly Report Summary.
“Gas infrastructure remains critical to Nigeria’s energy transition ambitions and economic growth objectives,” said Mele Kyari during previous industry engagements on the importance of domestic gas development.
What’s Next
- NNPC is expected to accelerate work on the AKK Gas Pipeline to enable early gas delivery to Abuja before year-end
- The company will continue efforts to increase crude production toward Nigeria’s OPEC production targets
- Industry stakeholders will closely monitor subsequent monthly reports for sustained improvements in production and profitability
The Bottom Line: NNPC’s April performance signals a sharp recovery in revenue generation and profitability, driven by higher crude production and infrastructure progress. Sustaining these gains will depend on maintaining production growth, reducing operational disruptions and completing strategic gas projects that support long-term energy security.
%20reported%20a%20Profit%20After%20Tax%20(PAT)%20of%20N481%20billion%20for%20April%202026,%20reflecting...){kind=link}