The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a revenue of approximately ₦4.97 trillion for April, reflecting continued strong earnings from crude oil and gas operations despite persistent structural challenges in the country’s energy sector.
According to the company’s latest monthly performance report, the state-owned oil giant also recorded a profit after tax of about ₦748 billion within the same period, underscoring improved operational efficiency and sustained production levels across key upstream assets.
The report showed that Nigeria’s crude oil and condensate production averaged about 1.6 million barrels per day in April, while natural gas output stood at approximately 7.47 billion standard cubic feet per day, indicating relatively stable output performance compared to previous months.
NNPC also disclosed that it made substantial statutory payments running into trillions of naira within the first quarter of the year, reinforcing its role as a major revenue contributor to the federation account.
However, despite the strong financial performance, concerns remain over the state of Nigeria’s refining infrastructure. The Port Harcourt, Warri, and Kaduna refineries are still undergoing review processes, raising continued questions about the country’s dependence on imported refined petroleum products.
Pipeline reliability was reported at about 97 percent, while petrol availability at NNPC retail stations stood at 54 percent, reflecting ongoing distribution and supply challenges within the downstream sector.
Industry analysts note that while the revenue figures highlight improved crude earnings and production stability, the widening gap between revenue and profit continues to raise concerns about operational costs, inefficiencies, and broader sectoral reforms needed to strengthen Nigeria’s oil and gas value chain.
All figures contained in the report remain provisional and unaudited, according to NNPC Ltd.
The latest update adds to ongoing public debate about transparency, refinery rehabilitation, and how effectively Nigeria is converting its vast oil resources into broad-based economic development.
