The figure represents a significant rise from the ₦136 billion profit posted in February 2026, according to data from the company’s latest monthly report. This reflects a 102.9 per cent month-on-month growth.

The report also showed that NNPC generated ₦2.774 trillion in revenue in March, while crude oil and condensate production rose to 1.56 million barrels per day. Gas output climbed to 7,731 million standard cubic feet per day, marking the highest level recorded in the past 12 months.

Gas Output Boosts Performance

Gas production increased from 7,458 million standard cubic feet per day in February to 7,731 million in March, while gas sales also rose to 5,059 million standard cubic feet per day from 4,893 million in the previous month.

NNPC attributed the improved performance partly to the early completion of maintenance work on the OML 118 Bonga facility, which was concluded 12 days ahead of schedule.

The company stated that overall production growth was supported by enhanced operational efficiency and timely maintenance interventions.

Crude oil and condensate output also improved, rising from 1.51 million barrels per day in February to 1.56 million barrels per day in March.

Pipeline Challenges Impact Operations

Despite the gains, NNPC noted that operations were affected by some disruptions during the period. A leak on the Trans Forcados Pipeline at the Keremor axis caused outages that impacted several production assets between February 20 and March 25.

The company said the incident led to temporary production curtailments across multiple facilities.

NNPC explained that it is working to improve production stability through asset reliability upgrades, resolution of evacuation constraints, and other recovery measures aimed at sustaining output growth.

Statutory Payments and Infrastructure Progress

The report also revealed that the company remitted ₦2.89 trillion in statutory payments between January and March 2026.

On infrastructure development, NNPC disclosed that key gas pipeline projects are nearing completion, with the Obiafu-Obrikom-Oben pipeline at 96 per cent completion and the Ajaokuta-Kaduna-Kano pipeline at 93 per cent.

It also noted ongoing drilling activities at the River Niger crossing for the OB3 pipeline project.

For the AKK pipeline, welding work on the spur line to the Gwagwalada Independent Power Plant has been completed, alongside significant progress on remaining pre-commissioning activities.

The report further indicated that upstream pipeline availability stood at 76 per cent, while petrol availability across NNPC Retail stations was recorded at 56 per cent.

NNPC, however, cautioned that all production, sales, and financial figures remain provisional and subject to final reconciliation with stakeholders.