In April 2026, Nigeria’s oil sector started the second quarter on a strong recovery path.
NNPC Ltd increased revenue sharply to ₦4.97 trillion in April from ₦2.77 trillion in March.
Revenue Surge Momentum
As a result, the company achieved a 79% month-on-month rise, driven by higher crude output and efficiency gains.
Moreover, stronger production and tighter operations improved overall financial performance across all activities.
In addition, profit after tax climbed to ₦481 billion in April from ₦276 billion in March.
Crude oil and condensate output also rose to 1.68 million barrels per day from 1.56 million.
Consequently, higher production strengthened revenue as Nigeria continued relying heavily on oil earnings.
Between January and April, NNPC remitted ₦3.71 trillion to the Federal Government.
This figure surpassed ₦2.89 trillion from the first quarter and boosted public revenue inflows.
Production Growth Drive
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Meanwhile, gas operations stayed stable throughout April and maintained consistent output across assets.
Natural gas production reached 7.7 billion standard cubic feet per day in April.
Similarly, gas sales averaged 4.65 billion standard cubic feet per day during the period.
Pipeline availability held steady at 79%, and this showed stable infrastructure performance across the network.
NNPC completed the River Niger crossing segment of the OB3 gas pipeline project.
Additionally, the company advanced work on the Ajaokuta-Kaduna-Kano gas pipeline for industrial growth.
Gas Infrastructure Expansion
Overall, these improvements come as Nigeria pushes to raise oil production and revenue generation.
Oil still drives government finances, so output growth remains critical for fiscal stability efforts.
At the same time, gas projects support energy transition goals and expand domestic industrial usage.
However, infrastructure risks and operational disruptions still threaten sustained production growth nationwide.
Nigeria continues its push to meet its OPEC production quota after years of underperformance.
NNPC also plans to expand gas reserves from 210 trillion to 600 trillion cubic feet.
Finally, its Gas Master Plan 2026 targets 10 billion cubic feet daily production for industrialisation.
