NNPC Ltd. records N481bn profit in April

The Nigerian National Petroleum Company Limited (NNPC Ltd.), says it has recorded N481 billion Profit After Tax, PAT, for April 2026.

The development represented a sharp jump from the N276 billion posted in March, the company said in the April Monthly Report Summary, released on its X handle.

The company said its crude oil and condensate production rose to 1.68 million barrels per day (mmbopd) in April, representing a 7.69 per cent increase from the March production level.

The NNPC Ltd said revenue from oil hit N4.971 trillion for the month, up from N2.77 trillion recorded in March 2026, representing a 79.23 per cent increase.

The report iinducated that gas production remained largely stable at 7,730 million standard cubic feet per day (mmscf/d), compared with 7,731 mmscf/d recorded in March.

It added that cumulative statutory payments for the period January to April 2026 stood at N3.714 trillion.

The company highlighted the successful completion of the OB3 River Niger Crossing project as one of its major milestone during the period.

It also noted continued progress on construction and installation activities along the Ajaokuta-Kaduna-Kano, AKK, Gas pipeline mainline, aimed at achieving early gas delivery to Abuja in 2026.

The report further outlined its strategic initiatives undertaken during the month aimed at strengthening Nigeria’s energy infrastructure to enhance operational performances.
NAN