NNPC Reports 79.23% Jump In Profit After Tax, Reaches N481bn

According to Ireporter Online, the Nigerian National Petroleum Company Limited Nigerian National Petroleum Company Limited has reported a sharp rise in its financial performance for April 2026, posting a Profit After Tax of N481 billion, representing a 79.23 per cent increase compared to the N276 billion recorded in March. The company disclosed this in its April 2026 Monthly Report Summary published on its official X handle, noting that revenue for the period also surged significantly to N4.971 trillion, up from N2.774 trillion in the previous month. It further revealed that statutory remittances to the Federation Account stood at N3.714 trillion for the January to April period, with an additional N826 billion paid in April alone.

The report attributed the strong performance to improved crude oil production, higher global oil prices, and operational efficiencies across key assets. Crude oil and condensate output rose to 1.68 million barrels per day, reflecting a 7.69 per cent increase from the previous month, while gas production remained largely stable at 7,730 million standard cubic feet per day. The company also highlighted major infrastructure milestones, including the completion of the 130-kilometre Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger crossing and continued progress on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Ajaokuta–Kaduna–Kano Gas Pipeline aimed at boosting gas supply to Abuja.