The Nigerian National Petroleum Company Limited recorded a sharp improvement in April 2026, with revenue rising to N4.971 trillion and profit after tax reaching N481 billion. The gains were supported by higher crude oil and condensate output, stronger sales volumes and continued progress on strategic gas infrastructure, including the OB3 and AKK pipeline projects.
Key Overview
- NNPC revenue rose to N4.971 trillion in April 2026.
- Profit after tax reached N481 billion for the month.
- Crude oil and condensate production increased to 1.68 million barrels per day.
- Gas production remained broadly stable at 7,730 mmscf/d.
- Statutory payments from January to April stood at N3.714 trillion.
- NNPC reported progress on the OB3 and AKK gas pipeline projects.
NNPC Limited recorded a strong April performance as revenue rose to N4.971 trillion, equivalent to about $3.6 billion based on the conversion used in the original report, while crude oil and condensate output climbed to 1.68 million barrels per day.
The figures were contained in the company’s April 2026 monthly report, which showed broad improvement across production, sales and financial indicators. Revenue increased by 79.23% from the March figure, while profit after tax rose by 74.28% month-on-month to N481 billion.
The report also showed that NNPC’s cumulative statutory payments from January to April reached N3.714 trillion, underlining the company’s continued fiscal importance to the Nigerian government. The payments come at a time when Abuja is seeking stronger oil and gas receipts to support public finances, foreign exchange supply and broader economic reforms.
Production Output
On production, crude oil and condensate output rose to 1.68 million barrels per day in April, up from 1.56 million barrels per day in March. The improvement suggests stronger upstream performance after months of pressure linked to maintenance disruptions, pipeline security risks and infrastructure constraints.
NNPC’s own note, however, cautioned that April performance was still affected by the delayed restart of the Trans Ramos Pipeline after turnaround maintenance, as well as facility integrity issues in some assets. The company said all production, sales and financial figures remain provisional and subject to reconciliation with relevant stakeholders.
Gas production was broadly unchanged at 7,730 million standard cubic feet per day, compared with 7,731 mmscf/d in March. Gas sales stood at 5,044 mmscf/d, slightly lower than March’s 5,059 mmscf/d, but still above most monthly levels recorded in the second half of 2025.
The infrastructure story was equally important. NNPC said the OB3 River Niger Crossing had been successfully completed, moving Nigeria closer to its gas infrastructure development goals. The OB3 project is designed to strengthen gas transmission between the eastern and western parts of the country, supporting domestic supply, power generation and industrial use.
The company had earlier described the OB3 milestone as a major breakthrough for Nigeria’s gas network. In the April report, OB3 progress was listed at 96%, signalling that the project is nearing a more advanced delivery phase.
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Construction and installation activities
NNPC also reported that construction and installation activities continued on the Ajaokuta-Kaduna-Kano gas pipeline. The company said work is focused on achieving early gas delivery to Abuja in 2026. The AKK pipeline is one of Nigeria’s most strategic gas projects because it is expected to move gas into Abuja, Kaduna and Kano, supporting power generation, fertiliser production and gas-based industries.
Reuters previously reported that the long-delayed $2.8 billion AKK pipeline is central to Nigeria’s plan to drive industrial growth in the northern region. NNPC has also linked the project to its broader ambition to raise oil output and expand gas production over the medium term.
The April update builds on NNPC’s 2025 performance, when the company reported N60.517 trillion in total revenue and N5.760 trillion in after-tax profit. That annual result showed NNPC’s growing commercial role after its restructuring under the Petroleum Industry Act.
For Nigeria, April’s stronger output and revenue are positive signals, but sustainability remains the key test. Higher production must be maintained through pipeline availability, asset integrity, security improvements and faster project execution. If NNPC can keep output near current levels while completing major gas infrastructure, the company could provide stronger support to government revenues and Nigeria’s wider energy transition strategy.
Sources used: NNPC Limited / Reuters / Nigerian Tribune / Zawya
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