NNPC Profit Surges on Strong Gas Output

The NNPC profit March 2026 figures show a strong financial rebound, with profit after tax reaching N276bn, more than double February’s earnings. Revenue also rose to N2.77tn, reflecting a 3.51 per cent increase. This growth came as gas production Nigeria hit 7,731 million standard cubic feet per day, its highest level in the past year.

The company noted steady gains across key output areas. “This edition records 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.” While crude oil production held steady at 1.56 million barrels per day, it marked an improvement from January levels.

The NNPC profit March 2026 boost was largely driven by gas, which rose consistently throughout the first quarter. The firm linked this progress to better efficiency, including the early completion of maintenance work at the Bonga asset.

However, pipeline issues remained a major concern. “The Trans Forcados Pipeline outage, resulting from a leak at the Keremor axis, negatively impacted production volumes,” the report stated. These disruptions reduced crude oil sales, which dropped to 17.37 million barrels in March.

Despite this, NNPC Limited highlighted recovery efforts aimed at improving reliability and resolving transport constraints. Gas sales also increased to 5,059 mmscf/d, reinforcing the sector’s growing importance.

The NNPC profit March 2026 report also pointed to progress in pipeline infrastructure projects, including developments linked to power generation. Still, petrol availability remained low at 56 per cent nationwide.

With strong gas output and rising profits, the company appears to be regaining stability, though infrastructure and supply challenges continue to pose risks.

Can sustained gas growth help NNPC overcome its long-standing production and supply challenges?