Figures cited by **Premium Times** show that the Nigerian National Petroleum Company Limited (NNPC) recorded a significant profit of N136 billion in February 2026, largely driven by a sharp increase in domestic and export gas production. The surge is attributed to the commissioning of new gas turbine plants and improved pipeline surveillance, which reduced the frequency of infrastructure vandalism in the Niger Delta.
The state-owned oil firm noted that the shift toward gas as a “transition fuel” is starting to pay off, providing much-needed liquidity for the company’s capital projects. Despite this profit, NNPC continues to face scrutiny over the retail price of petrol and the ongoing delays in bringing all local refineries to full operational capacity.
**ThisDay** reported that “the profit boost is a sign of stabilizing operations,” while **The Guardian** noted that “stakeholders are calling for more transparency in how these profits are reinvested into the midstream sector.”
Echotitbits take: NNPC is finally behaving like a commercial entity. However, as long as fuel prices remain high and local refineries aren’t fully satisfying domestic demand, the public will view these profit figures with a healthy dose of skepticism.
Source: Premium Times – https://www.premiumtimesng.com/news/top-news/870965-nnpc-posts-n136bn-profit-as-gas-production-rises-in-february.html, April 12, 2026
Photo credit: Premium Times
