The Nigerian National Petroleum Company Limited (NNPC Ltd.) recorded a sharp increase in revenue and profitability in April 2026, driven by improved crude oil production and stronger operational performance.
- +NNPC revenue jumps 79% to N4.97 trillion in April 2026
According to the company’s April 2026 operational and financial report released on Saturday, revenue rose to N4.97 trillion in April from N2.77 trillion recorded in March, representing a month-on-month increase of about 79%.
According to the company’s April 2026 operational and financial report released on Saturday, revenue rose to N4.97 trillion in April from N2.77 trillion recorded in March, representing a month-on-month increase of about 79%.
The performance highlights a stronger start to the second quarter of the year as the state-owned energy company continues efforts to boost production, improve operational efficiency, and expand gas infrastructure.
NNPC’s financial and operational indicators showed notable improvements in April, supported by higher oil production and increased government remittances.
The figures indicate a stronger contribution by the national oil company to government revenues amid ongoing efforts to improve production levels and operational efficiency.
While oil production improved during the month, natural gas operations remained largely stable, with ongoing progress recorded across major gas infrastructure projects.
NNPC also reported continued progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project, a critical infrastructure initiative aimed at expanding gas supply across the country and supporting industrial development.
The strong improvement in revenue and profitability comes at a time when Nigeria is seeking to increase oil production, boost foreign exchange earnings, and strengthen government finances.
Higher crude oil output remains critical to achieving the Federal Government’s revenue targets, given the continued importance of oil earnings to the country’s fiscal framework.
The progress recorded on strategic gas projects is also expected to support Nigeria’s energy transition objectives, improve domestic gas utilization, and attract investments into power generation and industrial activities.
However, operational challenges continue to pose risks to production growth and infrastructure delivery timelines.
Nigeria has continued efforts to increase crude oil production toward its OPEC quota following years of underperformance caused by crude theft and pipeline vandalism.
In March, NNPC said it plans to grow Nigeria’s gas reserves from the current 210 trillion cubic feet to about 600 trillion cubic feet.
The NNPCL 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.
