By Ayomide Otitoju
The Nigerian National Petroleum Company (NNPC) Limited has increased Nigeria’s crude oil output to 1.7 million barrels per day (bpd) and set new targets of 2 million bpd by 2027 and 3 million bpd in the long term.
Group Chief Executive Officer, Engr. Bashir Ojulari, disclosed this on Tuesday during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates.
In a statement issued by NNPC’s Chief Corporate Communications Officer, Andy Odeh, Ojulari attributed the rise in production to strengthened collaborations with International Oil Companies (IOCs) and indigenous operators, as well as the removal of legacy bottlenecks through shared-value partnerships.
He reaffirmed NNPC’s commitment to partnering with the Organization of the Petroleum Exporting Countries (OPEC), African national oil companies, and financial institutions to attract between $30 billion and $60 billion in new investments by 2030.
Ojulari also noted that new government incentives beyond the Petroleum Industry Act (PIA) are drawing capital into deep-water exploration, dry gas development, and cost-reduction projects. He highlighted ongoing national initiatives, including the accelerated development of new upstream fields, expansion of gas infrastructure such as the nearly completed Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) pipelines, and the rollout of cleaner energy under the Presidential CNG Initiative.
Calling for stronger global partnerships, Ojulari urged international investors to join efforts to end energy poverty across Africa. During a conversation with Pulitzer Prize-winning energy author Daniel Yergin, he emphasized Nigeria’s central role in Africa’s energy landscape, describing NNPC Ltd as pivotal to achieving continental energy sufficiency.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose,” Ojulari stated. “At NNPC Limited, we are not just participating in the energy transition; we are shaping it from an African perspective—growing production, monetising gas, and delivering value to Nigerians and global partners alike.”
Referencing ADNOC CEO and UAE Minister of Industry, Dr. Sultan Ahmed Al Jaber’s call for “pragmatic, not performative” policies, Ojulari underscored the need for increased global investment in Africa’s energy sector.
“Our message is clear: Nigeria is open for business. NNPC Limited is fit for the future, and we invite the world to co-invest in Africa’s energy transformation,” he concluded.
The 41st edition of ADIPEC, themed “Energy. Intelligence. Impact,” brings together global industry leaders to discuss sustainable energy solutions and future investment opportunities.
