By Francis Ajuonuma
The Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in crude oil, condensate and gas production for March 2026, with the company recording a revenue of N2.774 trillion and a significant rise in profit after tax.
The figures were contained in the company’s latest Monthly Report Summary released for March 2026.
According to the report, crude oil and condensate production rose to 1.56 million barrels per day during the month under review, representing an increase of about 3.31 per cent compared to February 2026.
Gas production also climbed to 7,731 million standard cubic feet per day (mmscf/d), reflecting a 3.66 per cent increase and the highest gas production level recorded by the company within the last 12 months.
NNPC Ltd attributed the improved performance to sustained operational efficiency and steady progress on key oil and gas infrastructure projects across the country.
The report stated that, “The improved output was driven by sustained operational efficiency and the achievement of major project milestones during the period under review.”
Among the major achievements highlighted was the early completion of the OML 118 Bonga Turnaround Maintenance project, which the company said was delivered 12 days ahead of schedule.
NNPC further disclosed that welding activities on the 24-inch spur line connecting the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline to the Gwagwalada Independent Power Plant had been completed successfully.
The company also noted that drilling operations at the River Niger crossing segment of the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project were progressing steadily as planned.
On the financial side, NNPC Ltd recorded a revenue of N2.774 trillion for March 2026, representing a 3.51 per cent increase from the previous month.
Profit after tax rose sharply to N276 billion, indicating a 102.94 per cent increase compared to the February 2026 figures.
The report further revealed that cumulative statutory payments made between January and March 2026 stood at N2.888 trillion.
NNPC stated that the latest operational and financial performance underscores ongoing efforts by the company to strengthen energy production, improve gas supply infrastructure and enhance efficiency across its operations.
“The performance reflects ongoing efforts to improve operational efficiency, expand gas infrastructure, and strengthen energy production across our operations,” the company stated.
