The Nigerian National Petroleum Company Limited (NNPCL) has reported a profit after tax of ₦276 billion for March 2026, representing a 102.94 per cent increase compared to the figures recorded in February 2026, according to its latest Monthly Report Summary.

The report, released by the national oil company, also showed that revenue for March rose to ₦2.774 trillion, marking a 3.51 per cent increase from the previous month, while cumulative statutory payments between January and March 2026 stood at ₦2.888 trillion.

NNPCL said the performance reflected continued progress across major upstream and midstream projects as well as improvements in operational efficiency and energy production nationwide.

According to the report, crude oil and condensate production increased to 1.56 million barrels per day in March 2026, while gas production rose to 7,731 million standard cubic feet per day (mmscf/d).

The company said the latest figures represented growth of about 3.31 per cent and 3.66 per cent respectively when compared to February 2026, adding that gas production achieved its highest level in the last 12 months.

The improvement recorded, according to the Company, was as a result of “sustained operational efficiency and the successful completion of major projects during the period under review.”

The report also highlighted the early completion of the OML 118 Bonga Turnaround Maintenance, which was delivered 12 days ahead of schedule.

It further revealed that welding activities on the 24-inch spur line to the Gwagwalada Independent Power Plant along the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline had been completed, while drilling operations at the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger crossing were still ongoing.

NNPCL said its latest performance clearly shown its commitment to improving operational efficiency, expanding gas infrastructure and boosting energy production nationwide.

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