By Onu Okorie
The Nigerian National Petroleum Company Limited posted one of its strongest monthly performances of the year in April, with oil revenue jumping nearly 80 per cent and crude production climbing to its highest level in twelve months.
NNPC raised its monthly revenue to N4.971 trillion in April, up from N2.774 trillion in March, a rise of more than 79 per cent month-on-month driven largely by higher crude oil production. The figures were contained in the company’s April 2026 Monthly Report Summary, released on Saturday.
The revenue growth was accompanied by a substantial rise in profitability, with Profit After Tax climbing from N276 billion in March to N481 billion in April, making also a 74.3 per cent month-on-month increase and one of the strongest monthly earnings performances recorded by the company this year.
Crude oil and condensate production increased to 1.68 million barrels per day in April, up from 1.56 million bpd in March, marking the highest monthly output level recorded in the twelve-month period covered in the report. The increase of 120,000 barrels per day represented a 7.7 per cent improvement and reversed some of the production constraints experienced earlier in the year, strengthening hopes that Nigeria could continue its gradual recovery towards higher crude output levels before the end of 2026. Crude oil accounted for 1.43 million bpd of the total, with condensates contributing the remaining 0.25 million bpd.
Natural gas production remained largely stable at 7.7 billion standard cubic feet per day in April, while gas sales averaged 4.65 billion scf per day and upstream pipeline availability stood at 79 per cent.
Total statutory payments to the federation rose significantly, climbing from N2.888 trillion as of March to N3.714 trillion in April — an increase of N826 billion, or 28.6 per cent.
NNPC achieved a major infrastructure milestone in April with the successful crossing of the OB3 River Niger pipeline segment, advancing Nigeria’s gas infrastructure ambitions. The Ajaokuta-Kaduna-Kano gas pipeline also reached 94 per cent completion, with NNPC keeping focus on delivering gas to Abuja before the end of 2026.
However, not all indicators pointed upward. Premium Motor Spirit availability across NNPC Retail stations stood at only 54 per cent, indicating continuing challenges in product distribution and station operations. The company also flagged delays on the Trans Ramos Pipeline following maintenance and integrity issues on some upstream assets.