The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its target to raise the country’s crude oil production to two million barrels per day by 2027, following an increase to 1.7 million barrels per day.
Group Chief Executive Officer, Bashir Bayo Ojulari, announced this on Tuesday during the “Energy Talk” session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates.
Ojulari said the production growth was driven by strengthened partnerships with international and indigenous oil producers, removal of operational barriers, and a renewed focus on shared value creation.
In a statement by Chief Corporate Communications Officer, Andy Odeh, NNPCL said it plans to attract between $30 billion and $60 billion in new investments by 2030 through collaborations with OPEC members, African national oil firms, and global financial institutions.
Ojulari explained that new government incentives beyond the Petroleum Industry Act are encouraging investment in deep-water exploration, gas development, and cost efficiency.
He highlighted ongoing projects such as upstream revival initiatives, expansion of gas infrastructure including the nearly completed Ajaokuta-Kaduna-Kano and Obiafu-Obrikom-Oben pipelines, and the rollout of cleaner energy projects like the Presidential CNG Initiative and autogas corridors.
Ojulari described Nigeria as a “central player in Africa’s energy landscape” and said NNPCL remains the “linchpin” of the continent’s energy sufficiency drive under President Bola Tinubu’s Renewed Hope Agenda.
He said the company is shaping Africa’s energy transition through pragmatic action—growing production, monetising gas, and deepening global partnerships.
Ojulari also aligned with UAE Minister of Industry and ADNOC CEO Sultan Ahmed Al Jaber’s call for “pragmatic, not performative” global energy policies, urging investors to co-finance Africa’s energy future.
