NNPC revenue jumps to N4.97trn in April

Nigerian National Petroleum Company Limited recorded a sharp increase in revenue in April 2026, with earnings rising to N4.97 trillion from N2.77 trillion in March.

According to the company’s latest operational and financial report released on Saturday, the figure represents a 79 per cent month-on-month increase.

Profit after tax also grew significantly during the period, climbing to N481 billion in April from N276 billion in March, a rise of about 74 per cent.

NNPC further disclosed that it remitted a total of N3.71 trillion to the Federal Government between January and April 2026, up from N2.89 trillion recorded in the first quarter of the year.

On production, the report showed a modest recovery in crude oil and condensate output, which rose 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. Pipeline availability in the upstream segment stood at 79 per cent.

The company also reported progress on key infrastructure projects, including the successful crossing of the OB3 River Niger pipeline segment, as well as continued work on the Ajaokuta-Kaduna-Kano gas pipeline.

However, it noted setbacks such as delays in the Trans Ramos Pipeline project due to leak detection and facility integrity concerns.

In its social responsibility efforts, the NNPC Foundation commissioned three rehabilitated hospital wards with 102 beds at the National Orthopaedic Hospital, Lagos. It also provided relief materials to flood victims in Mokwa, Niger State, and trained over 72,000 National Youth Service Corps members in financial literacy during the month.