Nigerian National Oil Corporation achieves record profits
Nigerian oil profits and revenues reach record high
Written by: Mohammed Omran
The national oil company announced Nigerian NNPC Limited reported strong financial performance during April 2026, recording after-tax profits of 481 billion Naira, with a significant increase in revenue to 4.97 trillion Naira.
Nigerian National Petroleum Corporation reports profits of 481 billion naira
According to the company’s operational and financial report released on Saturday, revenues increased by approximately 79% compared to 2.77 trillion naira in March, while profits increased by approximately 74% compared to 276 billion naira in the previous month.
The report also revealed that the company transferred a total of 3.71 trillion naira in legal payments to the federal government between January and April 2026, exceeding the 2.89 trillion naira transferred during the first quarter of the year.
Nigerian oil profits and revenues reach record high
On the operational side, crude oil and condensate production improved to 1.68 million barrels per day in April, compared to 1.56 million barrels per day in March, indicating a limited recovery in primary production.
Natural gas production remained stable at 7.7 billion standard cubic feet per day, while gas sales averaged 4.65 billion cubic feet per day, and oil pipeline availability reached 79%.
The company highlighted a significant milestone in the development of gas infrastructure in Nigeria, with the successful crossing of the Niger River pipeline within the OB3 project during April, along with continued progress on the Akjaukota to Kaduna and Kano (AKK) gas pipeline project.
Despite the positive performance, the company acknowledged operational challenges, including delays in starting the Trans Ramos pipeline project due to issues related to leak detection and facility safety.
The report also noted that NNPC continued to implement social responsibility programs, including the opening of three refurbished 102-bed hospital wards at the National Orthopedic Hospital in Lagos on April 29.
The foundation also provided humanitarian assistance to flood victims in Mokoa, Niger State, in addition to training 72,657 members of the National Youth Service Corps (NYSC) on basic financial literacy within empowerment programs.
These figures reflect a marked improvement in the company’s financial position, as it works to increase production, strengthen infrastructure, and raise its contribution to government revenues.
