Nigeria’s state oil company, NNPC Ltd, generated 4.97 trillion naira (about US$3.6 billion) in revenue in April 2026, marking a sharp increase in earnings alongside a rise in crude oil production, according to its latest monthly report.
The figure represents a 79.23 percent increase compared with March, while profit after tax rose 74.28 percent month-on-month to 481 billion naira, reflecting stronger upstream performance and improved operational output.
The report also showed that Nigeria’s crude oil and condensate production climbed to 1.68 million barrels per day (mbpd) in April, up 7.69 percent from the previous month, signalling continued recovery in the country’s oil sector.
Gas production remained broadly stable at 7,730 million standard cubic feet per day, compared with 7,731 mscf/d in March, indicating steady output in the non-oil segment of the energy industry.
The company said cumulative statutory payments between January and April reached 3.71 trillion naira, underlining the oil sector’s continued importance as a key source of government revenue.
The performance comes as Nigeria seeks to stabilise production levels after years of disruptions caused by pipeline vandalism, oil theft and underinvestment in upstream infrastructure.
NNPC said operational improvements and ongoing reforms have contributed to the recent gains, alongside efforts to enhance security and efficiency in key oil-producing regions.
In terms of infrastructure, the company highlighted progress on several strategic gas projects aimed at expanding domestic energy supply and supporting industrialisation.
A key milestone during the period was the completion of the OB3 River Niger crossing, a critical component of Nigeria’s gas transmission network designed to improve north-south gas flow.
Work also continued on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline, one of the country’s flagship energy infrastructure projects intended to extend gas access to northern Nigeria.
Once completed, the AKK pipeline is expected to significantly boost natural gas supply to the north-central and northern regions, supporting power generation, industrial development and broader economic activity.
NNPC said it remains committed to delivering early gas supply to Abuja before the end of 2026, as part of its broader strategy to deepen domestic gas utilisation and reduce reliance on imported fuels.
Analysts say Nigeria’s improving output levels reflect gradual progress in stabilising the energy sector, though challenges remain, including security risks in the Niger Delta and the need for sustained investment to maintain production growth.
The oil and gas sector remains central to Nigeria’s fiscal stability, accounting for a significant share of export earnings and government revenue, despite ongoing diversification efforts.
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The latest figures are likely to reinforce optimism about Nigeria’s near-term production trajectory, even as policymakers continue to balance revenue growth with energy transition commitments.
