The oil sector recorded a notable uptick in activity in April 2026, as the Nigerian National Petroleum Company Limited (NNPC Ltd) reported a strong rebound in crude oil and condensate performance alongside a surge in revenue for the month.
Data from the company’s April 2026 monthly report summary showed that total crude oil and condensate sales climbed to 23.65 million barrels, up from 17.27 million barrels in March—representing a month-on-month increase of about 36.9 per cent.
NNPC attributed the improvement largely to stronger production levels, with output rising from 1.56 million barrels per day in March to 1.68 million barrels per day in April. The company said the gains were supported by improved operational efficiency, particularly enhanced facility uptime across key assets.
Production Gains Offset by Pipeline and Maintenance Setbacks
Despite the overall improvement, the national oil company acknowledged operational challenges during the month.
It stated that “April’s output was affected by delays in restarting the Trans Ramos Pipeline following turnaround maintenance, as well as leaks and integrity challenges on some facilities,” highlighting ongoing infrastructure vulnerabilities within the upstream sector.
Even so, crude performance outweighed these constraints, helping to push overall sales and production higher compared to the previous month.
Gas Output Flat as Sales Edge Lower
In contrast to crude oil performance, the gas segment showed mild softness.
Gas sales slipped slightly to 5.04 million standard cubic feet per day (mmscf/d) from 5.05 mmscf/d in March, while production also edged down marginally to 7,730 mmscf/d from 7,731 mmscf/d.
The near-flat performance reflects relative stability in the gas segment, even as crude oil activity drove most of the month’s growth momentum.
Revenue Surges Nearly 80% as Profit Rises Strongly
Financial performance for April showed a sharp improvement in earnings.
NNPC reported that revenue increased to ₦4.97 trillion, marking a 79.23 per cent rise compared to March. Profit after tax also climbed significantly, rising 74.28 per cent to ₦481 billion.
The company further disclosed that cumulative statutory payments between January and April 2026 reached ₦3.71 trillion, underscoring its continued fiscal contribution to government revenues.
Major Gas Infrastructure Milestones Announced
Beyond production and earnings, the company highlighted key infrastructure progress aimed at strengthening Nigeria’s long-term energy network.
NNPC confirmed the completion of the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger Crossing, describing it as a significant milestone for domestic gas transportation and supply reliability.
It also reported steady progress on the Ajaokuta-Kaduna-Kano Gas Pipeline Project, which is now 94 per cent complete. According to the company, efforts are being intensified to enable early gas delivery to Abuja in 2026.
These projects are expected to play a central role in expanding gas infrastructure and improving energy security across key regions of the country.
Figures Still Subject to Reconciliation
NNPC cautioned that all production, sales, and financial figures released for April remain provisional, noting that they are subject to reconciliation with relevant stakeholders as part of standard reporting processes.
Even with that caveat, the April report points to a strong month for Nigeria’s upstream oil sector, driven primarily by improved crude output and robust revenue growth.