Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a profit after tax of N276 billion for March 2026, its latest monthly report shows.
This is an increase from the N136 billion recorded in February and a drop from the N385 billion recorded in January.
The company, in its report summary released on Monday, highlighted key figures, including crude oil and condensate production, natural gas output, revenue, profit after tax, and strategic initiatives during the period.
In the report, the state-owned oil company posted a statutory payment of N2.89 trillion to the federation account within the first three months of 2026 (January to March).
The report also shows that the national oil company generated N2.77 trillion in revenue from oil, an increase from N2.68 trillion it recorded in February.
According to the report, Nigeria’s crude oil and condensate production stood at 1.56 million barrels per day (bpd), slightly up from February’s figure of 1.51 mbpd. Of this total, crude oil accounted for 1.32 mbpd, while condensates contributed 0.24 bpd.
In the same vein, natural gas production was 7.73 billion standard cubic feet per day (scf/d) in March, up from 7.46 billion scf/d in February. Gas sales rose to 5.059 bscf/d in March, from 4.893 bscf/d in February and 4. 978 bscf/d in January.
It added that the petrol availability in its retail stations nationwide was 56 per cent in March, slightly down from 58 per cent in February, while the Obiafu-Obrikom-Oben Gas Pipeline project (OB3) remained at 96 per cent completion, unmoved from the preceding month, and Ajaokuta- Kaduna- Kano (AKK) pipeline hit 93 per cent completion.
It explained that production improved compared to the previous month, driven by the early completion of the OML 118 Bonga Turnaround Maintenance, delivered 12 days ahead of schedule.
However, it said, the Trans Forcados Pipeline (TFP) outage, resulting from a leak at the Keremor axis, negatively impacted production volumes, leading to curtailments across several assets from 20 February to 25 March, alongside other operational challenges.
“All production, sales and financial figures are provisional and subject to reconciliation with relevant stakeholders,” the NNPC said.
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The company said it has continued to strengthen production resilience by executing restoration plans focused on improving asset reliability, resolving evacuation constraints, and implementing other targeted recovery initiatives.
“AKK mainline completed welding of the 24″ spur line to Gwagwalada Independent Power Plant.”
It noted that significant progress was recorded for outstanding mainline pre-commissioning works.
“OB3 River Niger Crossing: Drilling operations continued as scheduled,” it said.
