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.
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.”
The remittances in Q1 2026 come amid significant policy reforms introduced by the Federal Government to strengthen transparency and accountability in the oil sector.
NNPC’s contribution to the Federation Account aligns with recent directives aimed at tightening revenue management and reducing leakages in petroleum earnings. The reforms have reshaped how oil revenues are collected and remitted across the value chain.
Naijaonpoint reported that NNPC Ltd remitted N14.706 trillion in statutory payments to the Federal Government between January and December 2025.
The NNPC’s remittances is expected to have positive implications for federal, state, and local government finances, which depend heavily on oil revenues distributed through the FAAC framework.
With production levels holding steady and reforms deepening, expectations are rising that monthly remittances could remain elevated in the coming months.
