The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its target to raise Nigeria’s crude oil production to two million barrels per day (bpd) by 2027, as part of a broader plan to hit three million bpd in the long term.
Group Chief Executive Officer, Bashir Bayo Ojulari, announced the new production figures on Tuesday during the Energy Talk session at the 2025 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.
According to a statement by Andy Odeh, NNPCL’s Chief Corporate Communications Officer, Ojulari revealed that Nigeria’s current crude output has climbed to 1.7 million bpd, reflecting steady progress toward the 2027 goal.
Ojulari attributed the growth to strengthened partnerships with international oil companies and indigenous producers, as well as the removal of long-standing operational barriers and a renewed emphasis on shared value creation.
He also reaffirmed NNPCL’s commitment to collaborating with other OPEC member nations, African national oil firms, and global financial institutions to attract between $30 billion and $60 billion in new energy investments by 2030.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose. At NNPC Limited, we are not just participating in the energy transition; we are shaping it from an African perspective,” Ojulari said.
“Our focus is clear, grow production, monetise gas, deepen partnerships, and deliver value to Nigerians and our global partners alike.”
Highlighting Nigeria’s national energy drive, Ojulari pointed to ongoing projects aimed at reviving upstream production and expanding gas infrastructure. These include the nearly completed Ajaokuta–Kaduna–Kano (AKK) and Obiafu–Obrikom–Oben (OB3) gas pipelines, as well as initiatives promoting cleaner fuel options such as the Presidential CNG Initiative and the Autogas Corridor expansion.
The NNPCL boss also noted that new government incentives, beyond the Petroleum Industry Act (PIA) are already stimulating fresh investment in deep-water exploration, dry gas development, and cost optimization across Nigeria’s energy sector.
During an interactive session with Pulitzer Prize-winning energy expert Daniel Yergin, Ojulari described Nigeria as “a central player in Africa’s energy landscape,” adding that NNPCL serves as the linchpin for achieving energy security and economic diversification on the continent.
He linked the company’s strategic outlook to President Bola Tinubu’s Renewed Hope Agenda, which aims to transform Nigeria from an extractive economy into a diversified, investment-driven energy hub.
Ojulari also echoed the remarks of UAE Industry Minister and ADNOC CEO, Sultan Ahmed Al Jaber, who called for “pragmatic, not performative” energy policies and urged for $4 trillion in global energy investments annually.
“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future,” Ojulari concluded. “We invite the world to co-invest in Africa’s energy transformation.”
The ADIPEC 2025 conference, hosted annually by the Abu Dhabi National Oil Company (ADNOC), remains one of the world’s largest and most influential gatherings for energy leaders. This year’s edition, themed “Energy. Intelligence. Impact.”, marks the 41st in the series.
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