NNPC Revenue Jumps 79% to N4.97 Trillion in April 2026 on Higher Oil Output
By Aboki Forex —
The Nigerian National Petroleum Company Limited (NNPC Ltd.) posted a sharp rise in revenue and profit for April 2026, driven by improved crude oil production and stronger operations.
According to the company’s April 2026 operational and financial report released on Saturday, revenue hit N4.97 trillion, up from N2.77 trillion in March. That is a month-on-month increase of about 79%.
Profit and Production Surge
Profit after tax rose to N481 billion, compared with N276 billion in March. Crude oil and condensate production increased to 1.68 million barrels per day in April, up from 1.56 million barrels per day the previous month.
Between January and April 2026, NNPC remitted N3.71 trillion in statutory payments to the Federal Government. That is up from N2.89 trillion recorded in the first quarter of the year.
Gas Operations Steady
Natural gas production stood at 7.7 billion standard cubic feet per day (bscf/d) in April. Gas sales averaged 4.65 bscf/d during the period. Upstream pipeline availability was maintained at 79%.
NNPC completed the River Niger crossing segment of the OB3 gas pipeline project. The company also reported continued progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project, a key infrastructure initiative to expand gas supply across the country and support industrial development.
Why This Matters
The strong revenue and profit growth come as Nigeria pushes to increase oil production, boost foreign exchange earnings, and strengthen government finances. Higher crude output remains critical to meeting the Federal Government’s revenue targets, given oil earnings’ continued importance to the country’s fiscal framework.
Progress on strategic gas projects is expected to support Nigeria’s energy transition goals, improve domestic gas use, and attract investments into power generation and industrial activities. However, operational challenges still pose risks to production growth and infrastructure delivery timelines.
What You Should Know
Nigeria has been working to raise crude oil production toward its OPEC quota after years of underperformance caused by crude theft and pipeline vandalism. In March, NNPC said it plans to grow Nigeria’s gas reserves from 210 trillion cubic feet to about 600 trillion cubic feet.
The company earlier this year unveiled its Gas Master Plan 2026, targeting 10 billion cubic feet of daily gas production to drive industrialisation and strengthen Nigeria’s energy security.