NNPC Reports N276bn Profit Amid Pipeline Challenges

The Nigerian National Petroleum Corporation (NNPC) announced a profit of N276 billion for March 2026, marking a 102.94% increase compared to February's earnings. The corporation's revenue climbed to N2.77 trillion, reflecting a 3.51% rise from the previous month.

Gas production emerged as a significant growth driver, reaching 7.731 million standard cubic feet per day, the highest recorded in the past year. Crude oil output remained stable at 1.56 million barrels per day.

Despite facing pipeline disruptions from February 20 to March 25, which impacted output due to a leak in the Forcados pipeline, NNPC maintained its recovery strategies to stabilize production. The report also highlighted that crude oil sales sharply dropped to 17.37 million barrels in March from 22.85 million barrels in February.

The corporation emphasized its ongoing projects, including the Ajaokuta-Kaduna-Kano gas pipeline, aimed at enhancing supply for power generation.