The Nigerian National Petroleum Company Limited has recorded a notable performance improvement with increased revenues from N2.77tn to N4.97tn in March, a success of approximately 79% improvement in revenue in the month.
According to the financial and operational report, there is a notable improvement in profits after tax which increased to N481bn from N276bn in March, marking an increase of 74%.
NNPCL indicated between January and April 2026 that they had made payments totaling N3.71tn to the federal government as statutory payment. This was an improvement over the last three months where they paid N2.89tn.
Additionally, there is a considerable increase in the production of crude oil and condensates with the output improving to 1.68 million barrels per day in April from 1.56 million barrels per day in March.
There was stability in natural gas production with daily production still pegged at 7.7 billion standard cubic feet per day in April.
In the same vein, sales of natural gas were estimated at 4.65 billion standard cubic feet per day and pipeline capacity at 79 percent.
In an update, the oil firm explained that it had achieved substantial progress in gas infrastructure development in Nigeria through the successful crossing of the OB3 River Niger pipeline.
Also, progress was being made towards the development of the Ajaokuta-Kaduna-Kano gas pipeline project.
Notwithstanding, the oil firm experienced some difficulties during the commissioning of Trans Ramos Pipeline due to some leaks and integrity issues.
On the part of the NNPC Foundation, the foundation continued with its corporate social responsibility by commissioning three wards fully rehabilitated to accommodate 102 bed spaces in the National Orthopedic Hospital, Lagos on April 29.
The foundation further revealed that it provided humanitarian services to victims of flooding in Mokwa, Niger State.
Also, 72,657 members of NYSC were trained on basic financial management during April.
