ABUJA — The Nigerian National Petroleum Company Limited (NNPC Limited) has announced the remittance of ₦2.888 trillion to the Federation Account for the first quarter of 2026, covering January to March.
According to its Monthly Financial and Operational Report for March 2026, the company also recorded a Profit After Tax of ₦276 billion, representing a 102.94% increase compared to the previous month.
The report showed that revenue for the period stood at ₦2.774 trillion, reflecting a 3.51% rise from February 2026 figures. It added that cumulative statutory payments for the quarter amounted to ₦2.888 trillion.
NNPC Limited stated that the performance reflects improved operational efficiency and increased output across its upstream and gas segments.
On production, the company reported steady growth, with crude oil and condensate output rising to 1.56 million barrels per day, while gas production increased to 7,731 million standard cubic feet per day, representing gains of 3.31% and 3.66% respectively compared to the previous month.
The company noted that gas production for March reached its highest level in the trailing 12-month period, indicating strengthened output performance in the energy sector.
NNPC also highlighted key operational milestones achieved during the period, including the early completion of the OML 118 Bonga Turnaround Maintenance, delivered ahead of schedule by 12 days.
It further disclosed progress on major gas infrastructure projects, including the welding of the 24-inch spur line to the Gwagwalada Independent Power Plant on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, as well as ongoing drilling operations at the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger crossing.
The company said these developments are part of broader efforts to strengthen Nigeria’s energy infrastructure, improve gas supply reliability, and boost national revenue generation.
