The Nigerian National Petroleum Company Limited (NNPC) recorded a strong rebound in its financial and operational performance in April 2026, with revenue rising sharply by 79.2 per cent month-on-month to N4.971 trillion, driven largely by improved crude oil production.
Data contained in the company’s Monthly Report Summary for April 2026, released on Saturday, showed that revenue increased significantly from N2.774 trillion recorded in March to N4.971 trillion in April.
The performance was accompanied by a notable rise in profitability, as Profit After Tax (PAT) climbed from N276 billion in March to N481 billion in April.
The N205 billion increase represents a 74.3 per cent month-on-month growth, according to analysis of the figures.
The report further showed that statutory payments to the federation rose considerably during the period under review.
Total remittances increased from N2.888 trillion in March to N3.714 trillion in April, reflecting an additional N826 billion, or a 28.6 per cent increase.
The development highlights improved earnings from crude oil operations and associated upstream activities within the month.
Operational data indicated a rise in crude oil and condensate production, with average daily output increasing to 1.68 million barrels per day (bpd) in April, compared to 1.56 million bpd in March.
The increase of 120,000 bpd represents a 7.7 per cent improvement, marking one of the strongest production performances recorded in recent months.
A breakdown showed crude oil output at approximately 1.43 million bpd, while condensates accounted for about 0.25 million bpd.
The growth in output was seen as a continuation of recovery efforts aimed at restoring Nigeria’s production capacity.
According to the report, improved upstream facility performance played a major role in the increased output.
Pipeline availability rose from 76 per cent in March to 79 per cent in April, representing a 3.95 per cent improvement in operational efficiency.
However, the report noted that production was still affected by delays in restarting key pipelines after maintenance work, as well as integrity challenges on some assets.
“Month-on-month production performance was driven largely by improved facilities uptime.
April performance was, however, impacted by the delayed start-up of Trans Ramos Pipeline (TRP) post completion of Turn Around Maintenance due to identified leaks and other facility integrity issues in some assets,” the NNPC stated.
Despite these constraints, production levels remained above March figures, reflecting ongoing recovery across upstream operations.
In the gas sector, performance remained largely steady.
Average gas production stood at 7,730 million standard cubic feet per day (mmscf/d) in April, compared with 7,731 mmscf/d in March, representing a marginal decline of 0.01 per cent.
Gas sales also recorded slight movement, falling to 5,044 mmscf/d in April from 5,059 mmscf/d in March.
The figures indicated relatively stable gas output despite operational challenges across the energy value chain.
Progress On Gas Infrastructure Projects
The report also highlighted continued progress on major gas infrastructure projects seen as critical to Nigeria’s industrialisation and energy security agenda.
The Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project recorded 94 per cent completion in April, up from 93 per cent in March.
Similarly, the OB3 gas pipeline project remained at 96 per cent completion, unchanged from the previous month.
Both projects are expected to play key roles in expanding domestic gas utilisation once completed.
However, the report noted a decline in fuel availability across NNPC Retail stations nationwide.
Petrol availability dropped from 56 per cent in March to 54 per cent in April, representing a 3.6 per cent decrease.
The company did not provide specific reasons for the reduction.
Despite the setback, the overall April performance reflects improved earnings and stronger production levels, signalling continued recovery in Nigeria’s upstream oil and gas operations.
