NNPCL remits N2.888tr to Federation Account in three months
The Nigerian National Petroleum Company Limited (NNPCL) on Monday announced that it remitted N2.888 trillion revenue to the Federation Account in the three months covering January to March 2026. The
The Nigerian National Petroleum Company Limited (NNPCL) on Monday announced that it remitted N2.888 trillion revenue to the Federation Account in the three months covering January to March 2026.
The NNPCL Monthly Report Summary for March 2026, which also contained this, declared that Profit After Tax rose to N276 billion, up by 102.94 per cent from the February 2026 record.
According to the report, in the period under review, NNPCL earned N2.774 trillion revenue, rising 3.51per cent from the previous month revenue.
NNPC said, "The report covers key figures, including revenue of NGN2,774 Billion (up by 3.51% from the February 2026 report), profit after tax of NGN276 Billion (up by approximately 102.94% from the February 2026 report), cumulative statutory payments of NGN2,888 Billion for January to March, strategic initiatives during the period, and more."
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On production, the State-owned oil firm revealed month-on-month growth across key production metrics, with crude oil and condensate output rising to 1.56 mmbopd and gas production climbing to 7,731 mmscf/d, representing increases of approximately 3.31% and 3.66%, respectively, compared with the February 2026 report.
The report added that gas production for the month reached its highest level in the trailing 12-month period.
Continuing, NNPCL stressed that "We also highlight key milestones, including the early completion of the OML 118 Bonga Turnaround Maintenance, delivered 12 days ahead of schedule, as well as the completed welding of the 24" spur line to the Gwagwalada Independent Power Plant on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, with drilling operations on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline River Niger Crossing continuing as scheduled."
