NPC Petroleum Revenue Jumps 79% to N4.97 Trillion in April

The Nigerian National Petroleum Company Limited reported a sharp increase in its financial and production performance for April 2026, according to its monthly operational and financial report released over the weekend. The state-owned oil firm said its revenue for the month rose to N4.971 trillion, a 79 percent increase from the N2.77 trillion recorded in March. Profit after tax also saw a significant jump, reaching N481 billion in April compared to N276 billion the previous month.

The company’s crude oil and condensate production averaged 1.68 million barrels per day in April, representing a 7.69 percent increase from March. Of this total, crude oil accounted for approximately 1.43 million barrels per day, while condensate contributed 0.25 million barrels. The report noted that the month-on-month improvement was largely due to better facilities uptime, though it acknowledged that operational setbacks continued to constrain growth. Specifically, the delayed startup of the Trans Ramos Pipeline following maintenance due to identified leaks impacted April’s performance.

Gas production remained largely stable at 7,730 million standard cubic feet per day, marginally different from...