NNPC Reports N276bn Profit, Gas Output Hits Record High

The Nigerian National Petroleum Corporation (NNPC) announced a profit of N276 billion for March 2026, marking a 102.94% increase from February's figures. The company's revenue climbed to N2.774 trillion, a 3.51% rise from the previous month.

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

Despite significant pipeline disruptions impacting output from February 20 to March 25, NNPC has implemented recovery strategies to stabilize production. The report highlighted that crude oil sales sharply dropped to 17.37 million barrels in March from 22.85 million barrels in February.

NNPC also noted progress on gas pipeline projects aimed at boosting supply for power generation, including the completion of a spur line for the Ajaokuta-Kaduna-Kano gas pipeline.