NNPC Reports ₦276 Billion Profit, Gas Output at Record High

The Nigerian National Petroleum Corporation (NNPC) announced a profit of ₦276 billion for March 2026, reflecting a significant 102.9% increase compared to the previous month. The corporation's revenue for March stood at ₦2.774 trillion, with crude oil and condensate production rising to 1.56 million barrels per day.

Gas production also hit a one-year high of 7.731 million standard cubic feet per day, up from 7.458 million in February. This improvement in gas output was attributed to the early completion of the OML 118 Bonga turnaround maintenance, which was delivered 12 days ahead of schedule.

Despite these gains, NNPC faced operational challenges, including pipeline leaks that affected output from February 20 to March 25. The corporation made statutory payments totaling ₦2.89 trillion from January to March 2026 and reported significant progress on infrastructure projects, including the Obiafu-Obrikom-Oben gas pipeline, which is 96% complete.