NNPC Ltd Remits N2.89trn To Federation Account 1st Quarter

The Nigerian National Petroleum Company Limited (NNPC Ltd) on Monday said it remitted a total of N2.89 trillion to the Federation Account in the first quarter of 2026.

The petroleum corporation also added that its revenue rose to N2.774 trillion (up by 3.51% from the February 2026 report) and that it made a profit after tax of N276 billion (up by approximately 102.94% from the February 2026 report).

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These were contained in the company’s latest operational performance summary for March 2026, released on Monday.

According to the report, crude oil and condensate output rose to 1.56 mmbopd while gas production climbed to 7,731 mmscf/d, representing increases of approximately 3.31% and 3.66%, respectively, compared with the February 2026 report.

It added that gas production for the month reached its highest level in the trailing 12-month period covered by the report.

According to it, its Upstream Pipeline Availability was 76%

The report read in part: “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.”