NNPC SMASHES N481BN PROFIT IN APRIL AS OIL REVENUE NEARS N5TRN
GREATRIBUNETVNEWS–STATE oil firm doubles March earnings, pays N3.71trn to federation account in 4 months
Key Issues:
1. April Profit After Tax Hits N481 Billion
_”Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a profit after tax of N481 billion for April 2026, its latest monthly report shows.”_
_”This is an increase from the N276 billion recorded in March.”
2. Report Highlights Production, Revenue, and Strategic Initiatives
_”The company, in its report summary released on Saturday, highlighted key figures, including crude oil and condensate production, natural gas output, revenue, profit after tax, and strategic initiatives during the period.”
3. N3.71 Trillion Remitted to Federation Account Jan–April 2026
_”In the report, the state-owned oil company posted a statutory payment of N3.71 trillion to the federation account within the first four months of 2026 (January to April).”
4. *Oil Revenue Jumps to N4.97 Trillion*
_”The report also shows that the national oil company generated N4.97 trillion in revenue from oil, an increase from N2.77 trillion it recorded in March.”
According to the report, Nigeria’s crude oil and condensate production stood at 1.68 million barrels per day (bpd), up from March’s figure of 1.56 mbpd. Of this total, crude oil accounted for 1.43 mbpd, while condensates contributed 0.25 bpd.
In the same vein, natural gas production was 7,730 mmscf/d in April, slightly down from 7,731 mmscf/d in March. Gas sales stood at 5.044 bscf/d in April, from 5.059 bscf/d in March.
It added that the petrol availability in its retail stations nationwide was 54 per cent in April, slightly down from 56 per cent in March, while the Obiafu-Obrikom-Oben Gas Pipeline project (OB3) remained at 96 per cent completion, unmoved from the preceding month, and Ajaokuta- Kaduna- Kano (AKK) pipeline hit 94 per cent completion.
The NNPC said it ensured optimal facilities uptime, accelerated well intervention and reactivation programs, drive delivery of ongoing recovery initiatives with operators and continued collaboration with operating partners to sustain improved production performance.
“AKK (Mainline): Continued collaboration with stakeholders to progress construction and installation activities geared towards achieving early gas to Abuja in 2026,” the report said.
The company said it successfully completed the OB3 River crossing after relentless efforts from all critical stakeholders thus bringing Nigeria closer to realisation of its strategic gas infrastructure development ambitions
and assuring its energy security.
It added that 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.
“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” the report said.
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