NNPCL recorded N481 billion profit in April: Official
The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it has recorded N481 billion Profit After Tax (PAT) for April 2026.
The development represents 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 indicated 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 milestones 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 the strategic initiatives undertaken during the month aimed at strengthening Nigeria’s energy infrastructure and enhancing operational performance.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Health
NANNM-FHI issues 15-Day ultimatum to FG over Kaduna Hospital crisis
The nurses gave an ultimatum that, if an alleged victimisation of its members at the Federal Neuropsychiatric Hospital, Barnawa, Kaduna, was not addressed by July 29.
Education
U.S. reaches $4 million civil settlement, compliance agreement with WVUHS
The West Virginia United Health System, doing business as West Virginia University Health System, has agreed to pay $4,177,139 and entered a memorandum of agreement to resolve civil allegations of Controlled
Africa
Air Peace ends evacuation of Nigerians fleeing South Africans’ xenophobic attacks
Air Peace has concluded the federal government’s humanitarian evacuation from South Africa, returning the final batch of 308 Nigerians aboard its Boeing 777-200 aircraft.
NationWide
NBC scraps annual digital TV access fee
The National Broadcasting Commission says Nigerians will no longer pay annual Digital Access Fees under the renewed Digital Switch Over project.
Economy
TransDigm abandons acquisition of Stellant Systems after DOJ’s decision to block transaction
TransDigm Group has abandoned its attempt to acquire rival defence and industrial component manufacturer Stellant Systems.
Abuja
Trump pressures Tinubu on terror prosecutions, protection for Christians
The U.S. pressed the Nigerian government to do more to protect Christians from attacks, and that greater efforts and resources must be allocated to the safe return of IDPs.
