The Nigerian National Petroleum Company Limited has announced an increase in Nigeria’s crude oil production to 1.7 million barrels per day, with plans to reach 2 million bpd by 2027 and 3 million bpd in the long term.
The Group Chief Executive Officer, Bashir Ojulari, disclosed this on Tuesday during the “Energy Talk” session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), held in the United Arab Emirates, Channels reports.
In a statement signed by Andy Odeh, the Chief Corporate Communications Officer of NNPC Ltd, Ojulari said the company’s output growth was driven by redefined partnerships with international oil companies and indigenous producers, the removal of long-standing obstacles, and a renewed focus on shared value.
He reaffirmed NNPC Ltd’s commitment to collaborating with other OPEC members, African national oil firms and financial institutions to attract between $30 billion and $60 billion in fresh investments by 2030.
Ojulari noted that new government incentives, beyond the Petroleum Industry Act, are already drawing investment into deep-water exploration, dry gas development, and cost reduction efforts.
Highlighting key national energy initiatives, he cited the ongoing upstream revival projects, expansion of gas infrastructure, including the near-completion of the Ajaokuta-Kaduna-Kano and Obiafu-Obrikom-Oben pipelines and the rollout of cleaner energy solutions, such as the Presidential CNG Initiative and autogas corridor expansion.
Ojulari urged global investors to form bold partnerships aimed at eradicating energy poverty across Africa.
Responding to questions from the session host and Pulitzer Prize-winning energy author Daniel Yergin, Ojulari described Nigeria as “a central player in Africa’s energy landscape,” stressing that NNPC Ltd serves as the “linchpin for driving energy sufficiency on the continent.”
He underscored Nigeria’s vast oil, gas, and renewable energy potential, adding that under President Bola Tinubu’s Renewed Hope Agenda, efforts are underway to transform the nation from an extractive economy into a diversified, investment-driven energy hub.
he explained, “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. Our focus is pragmatic—grow production, monetise gas, deepen partnerships, and deliver value to Nigerians and global partners alike.”
Ojulari also echoed remarks by the UAE Minister of Industry and ADNOC CEO, Sultan Ahmed Al Jaber, who advocated for “pragmatic, not performative” energy policies and called for $4 trillion in annual global energy investment.
“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future. We invite the world to co-invest in Africa’s energy transformation,” Ojulari added.
The ADIPEC conference, hosted annually by ADNOC, is one of the world’s largest energy gatherings. The 2025 edition, themed “Energy. Intelligence. Impact,” marks the 41st in the series.
punch.ng
FOLLOW US ON:
