Gas Production Boosts NNPC’s Profit to N276 Billion in March 2026 – NNPC Q1 Significance
The Nigerian National Petroleum Company (NNPC) Limited has reported a significant profit after tax of N276 billion in March 2026, driven by a surge in gas production and improved operational efficiency. This represents a 102.94% increase from the N136 billion profit recorded in February 2026 .
SEE A BREAKDOWN OF NNPC’S QUARTER 1 PROFIT HERE👇
Gas Production Boosts NNPC’s Profit to N276 Billion in March 2026 – NNPC Q1 Significance
According to the company’s monthly report, gas production reached 7,731 million standard cubic feet per day (mmscf/d) in March, the highest level in the past 12 months. Gas sales also rose to 5,059 mmscf/d, up from 4,893 mmscf/d in February. Crude oil and condensate production increased modestly to 1.56 million barrels per day, compared to 1.51 million barrels per day in February .
The company’s revenue for March stood at N2.774 trillion, reflecting its continued importance to Nigeria’s energy sector. NNPC remitted N2.88 trillion to the federation in Q1 2026, underscoring its role as a major fiscal anchor for the country.
Despite operational challenges, including a leak on the Trans Forcados Pipeline, NNPC remains committed to strengthening production resilience and addressing evacuation constraints. The company is implementing recovery plans and making progress on key gas pipeline projects, including the Obiafu-Obrikom-Oben and Ajaokuta-Kaduna-Kano pipelines.
