Keypoints
- NNPC Ltd. recorded N481 billion Profit After Tax for April 2026, marking a sharp jump from N276 billion posted in March.
- Monthly oil revenue hit N4.971 trillion, representing a 79.23 per cent increase compared to the previous month.
- Crude oil and condensate production rose by 7.69 per cent to reach 1.68 million barrels per day.
- Cumulative statutory payments made by the national oil company from January to April 2026 stood at N3.714 trillion.
- Major midstream milestones included the successful completion of the OB3 River Niger Crossing project.
Main Story
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has reported a Profit After Tax (PAT) of N481 billion for April 2026.
The company disclosed this in its April Monthly Report Summary released via its official X handle.
It said the figure represents a significant increase from the N276 billion recorded in March 2026.
NNPC Ltd. also reported that crude oil and condensate production rose to 1.68 million barrels per day (mmbopd) in April, marking a 7.69 percent increase from March levels.
It added that revenue from crude oil sales stood at N4.971 trillion, up from N2.77 trillion in March, representing a 79.23 percent increase.
Gas production remained largely stable at 7,730 million standard cubic feet per day (mmscf/d), compared to 7,731 mmscf/d in March.
The company said cumulative statutory payments from January to April 2026 amounted to N3.714 trillion.
It highlighted the completion of the OB3 River Niger Crossing project as one of its key milestones during the period.
NNPC Ltd. also noted continued progress on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, aimed at facilitating early gas delivery to Abuja in 2026.
The company said its ongoing initiatives are focused on strengthening Nigeria’s energy infrastructure and improving operational performance.
The Issues
- Accelerating pipeline construction and installation activities along the AKK mainline to meet target deadlines.
- Transitioning from completed river crossings into full commercial distribution to supply regional gas markets.
- Maintaining operational momentum to preserve the sharp monthly jumps in corporate oil revenues and profit margins.
What’s Being Said
- Outlining the primary midstream construction milestones achieved during the monthly operational review cycle, the company highlighted the successful completion of the OB3 River Niger Crossing project as one of its major milestone during the period.
- Explaining the ultimate infrastructural goal of the ongoing works across the northern pipeline corridor, the report noted continued progress on construction and installation activities along the Ajaokuta-Kaduna-Kano (AKK) Gas pipeline mainline, aimed at achieving early gas delivery to Abuja in 2026.
- Detailing the underlying financial and technical motivations directing the company’s capital allocation choices, the report further outlined its strategic initiatives undertaken during the month aimed at strengthening Nigeria’s energy infrastructure to enhance operational performances.
What’s Next
- Technical teams will advance construction and installation activities along the main pipeline corridor to deliver early gas to Abuja in 2026.
- NNPC Ltd. will monitor production metrics to sustain daily crude and condensate output above the 1.68 million barrels threshold.
- Finance officials will track subsequent monthly disclosures via digital handles to evaluate corporate revenue trends against statutory payment targets.
Bottom Line
Driven by a 7.69 per cent increase in daily crude production that pushed oil revenues to N4.971 trillion, NNPC Ltd. recorded a massive N481 billion Profit After Tax for April 2026 while successfully completing the OB3 River Niger Crossing to advance early gas delivery to Abuja.
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