Business
NNPC Records Strong Profit Surge in March 2026 Results
NNPC March 2026 profit surge hits ₦276bn as gas and crude production rise sharply, driven by improved output and operational gains
The Nigerian National Petroleum Company Limited has reported a sharp increase in profitability for March 2026, posting a post-tax profit of ₦276 billion amid stronger crude oil and gas production performance.
Also read: NNPC Boss Praises Dangote Refinery as Vital Energy Stabiliser
The profit marks a significant jump from the ₦136 billion recorded in February, reflecting a 102.9 per cent increase driven by improved operational output across key assets.
According to the company’s latest monthly report, revenue for March stood at ₦2.774 trillion, while crude oil and condensate production rose to 1.56 million barrels per day.
Gas production also climbed to 7,731 million standard cubic feet per day, its highest level in the trailing 12-month period.
The company attributed the performance largely to increased gas output, with sales rising to 5,059 million standard cubic feet per day compared to the previous month.
It noted that the early completion of maintenance work on the OML 118 Bonga field played a crucial role in boosting production efficiency.
NNPC stated that the turnaround maintenance was completed 12 days ahead of schedule, helping to stabilise operations and improve output performance across affected facilities.
However, the report also highlighted operational disruptions, including a leak on the Trans Forcados Pipeline, which temporarily affected production between late February and March.
The company said the incident led to curtailments across several assets during the period.
Despite these setbacks, NNPC said it remained focused on strengthening production resilience through improved infrastructure reliability and targeted recovery initiatives aimed at reducing evacuation constraints.
Between January and March 2026, the company also recorded statutory payments of ₦2.89 trillion, underscoring its fiscal contribution during the period.
NNPC further disclosed progress on major gas infrastructure projects, including near-completion milestones on the Obiafu-Obrikom-Oben and Ajaokuta-Kaduna-Kano pipelines, both critical to expanding domestic gas supply.
Also read: NNPC Achieves N5.07tn Revenue Amid Production Dip
While describing the figures as provisional, the company noted that reconciliation processes with stakeholders were still ongoing.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
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