The Nigerian National Petroleum Company (NNPC) Limited has reported a profit after tax of N276 billion for March 2026.
This represents a 102.9 per cent increase compared to the N136 billion recorded in February, according to the company’s monthly report summary.
The national oil firm also revealed that statutory payments between January and March 2026 totalled N2.88 trillion.
Its report showed that oil and condensate production for March averaged 1.56 million barrels per day, slightly lower than the 1.64 million recorded in January but higher than the 1.51 million posted in February.
On gas output, production rose to 7.73 million standard cubic feet per day during the period, up from 7.28 mmscf/d in January and 7.45 mmscf/d in February.
The report indicated that upstream pipeline availability stood at 76 per cent, while petrol availability at NNPC Retail stations was 56 per cent.
On project development, the company said the Obiafu-Obrikom-Oben (OB3) gas pipeline is 96 per cent completed, while the Ajaokuta-Kaduna-Kano (AKK) pipeline has reached 93 per cent completion.
NNPC noted that drilling at the River Niger crossing for the OB3 project is progressing as planned.
For the AKK pipeline, it said welding of the 24-inch spur line to the Gwagwalada Independent Power Plant has been completed, adding that “significant progress” has been made on remaining pre-commissioning works.
The company added that it will continue to boost production stability through recovery plans aimed at “improving asset reliability, resolving evacuation constraints, and implementing other targeted recovery initiatives”.