The Nigerian National Petroleum Company Limited (NNPC Ltd) remitted a total of N2.89 trillion to the Federation Account in the first quarter of 2026.
The figure was disclosed in the company’s latest operational performance summary for March 2026, reflecting improved fiscal flows from Nigeria’s oil and gas sector.
The performance comes amid ongoing reforms aimed at strengthening transparency, boosting remittances, and improving efficiency across the petroleum value chain.
NNPC’s first-quarter performance shows a steady rise in statutory payments to the Federation Account, supported by improved production levels and stronger operational output. The data also reflects a rebound in profitability in March after a weaker performance in February.
- NNPC Ltd remitted N726 billion in January, rising sharply to N1.804 trillion in February
- March profit after tax stood at N276 billion, with revenue of N2.774 trillion
- Crude oil and condensate production averaged 1.56 million barrels per day in March
The figures highlight a strong recovery trajectory, with improved margins, rising production, and increased remittances strengthening NNPC’s overall contribution to national revenue.
On the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, the company said it “Completed welding of the 24″ spur line to Gwagwalada Independent Power Plant. Significant progress recorded for outstanding mainline pre-commissioning works.”
