NNPC Posts ₦276bn Profit Surge As Gas Production Hits One-Year Peak

This marks a sharp rise from the ₦136 billion profit posted in February, representing an increase of over 100 per cent, according to the company’s latest monthly report.

NNPC also reported revenue of ₦2.774 trillion for March, with crude oil and condensate production climbing to 1.56 million barrels per day. Gas output rose to 7,731 million standard cubic feet per day, the highest level recorded in the past year.

The report showed that gas production increased from 7,458 million standard cubic feet per day in February, while gas sales grew to 5,059 million standard cubic feet per day, up from 4,893 million. The improvement was partly credited to the early completion of maintenance work on the OML 118 Bonga facility, which was finished 12 days ahead of schedule.

Crude oil and condensate production also improved from 1.51 million barrels per day in February to 1.56 million barrels per day in March.

Despite the gains, the company noted that a leak on the Trans Forcados Pipeline disrupted operations, affecting output across several assets between February 20 and March 25. NNPC said it is working to strengthen production by improving asset reliability and addressing evacuation challenges.

Between January and March 2026, the company made statutory payments totaling ₦2.89 trillion.

On infrastructure, NNPC reported that the Obiafu-Obrikom-Oben gas pipeline project is 96 per cent complete, while the Ajaokuta-Kaduna-Kano pipeline stands at 93 per cent completion. Work is also ongoing at the River Niger crossing for the OB3 pipeline, and key welding activities have been completed on the AKK pipeline linking to the Gwagwalada Independent Power Plant.

The report added that upstream pipeline availability stood at 76 per cent, while petrol availability at NNPC retail outlets was 56 per cent.

NNPC noted that all figures remain provisional and subject to reconciliation with relevant stakeholders.