NNPC April Revenue Surges to N4.97 Trillion
Nigeria’s state-owned energy company has recorded a sharp rise in its financial fortunes. The Nigerian National Petroleum Company Limited generated N4.971 trillion in revenue for April 2026, marking a 79.23 per cent surge from the previous month. This significant rebound follows a relatively sluggish March performance, where revenue sat at N2.774 trillion. The latest monthly report highlights a broad recovery across critical operational segments, providing a much-needed boost to the state energy corporation.
The revenue surge translated directly into higher profitability for the company. Profit after tax jumped by 74.28 per cent to reach N481 billion in April, up from the N276 billion reported in March. This financial windfall allowed the state firm to increase its financial commitments to the federal government. Cumulative statutory payments to the state treasury climbed to N3.714 trillion between January and April. This figure indicates a substantial acceleration in payments compared to the N2.89 trillion remitted during the first quarter.
A welcome recovery in upstream production drove the improved balance sheet. Combined crude oil and condensate output rose to 1.68 million barrels per day in April, representing a 7.69 per cent monthly increase. Total sales volume reached 23.65 million barrels, rebounding from a 12-month low of 17.27 million barrels in March. The company attributed the higher output to better uptime across its production facilities, though it conceded that persistent technical challenges still cap the true potential of its oil fields.
While the financial numbers look impressive, operational infrastructure across the sector remains highly fragile. The state firm noted that production growth faced serious constraints due to a delayed restart at the Trans Ramos Pipeline. Engineers discovered a series of leaks and facility integrity issues during post-maintenance inspections, stalling operations. This setback reflects a wider trend of mixed performance across the network. Upstream pipeline availability across the country stood at an average of just 79 per cent throughout April.
The gas sector provided a more stable foundation for the state oil firm. Natural gas production remained largely steady at 7,730 million standard cubic feet per day. The enterprise achieved a notable infrastructure milestone by completing the challenging OB3 River Niger pipeline segment. Progress also continued on the high-profile Ajaokuta-Kaduna-Kano project. Managers remain committed to delivering early gas to Abuja before the end of the year to support domestic industries and power plants.
Despite the billions flowing into corporate coffers, everyday consumers continue to face severe difficulties. Premium Motor Spirit availability across retail filling stations averaged a dismal 54 per cent in April. This distribution failure highlights a persistent disconnect between upstream earnings and downstream fuel delivery. The company sought to soften the domestic friction by highlighting several social interventions. These projects included rehabilitating medical wards in Lagos, sending aid to Niger State flood victims, and training youth corps members.