Oil Production: NNPC Targets 2 Million Barrels Per Day as Output Hits 1.8 Million
…Ojulari links 600,000bpd increase to reforms, announces $20bn investment agreements
The Nigerian National Petroleum Company Limited (NNPC Limited) has disclosed that Nigeria’s daily crude oil production has risen to 1.8 million barrels, representing an increase of 600,000 barrels per day from the previous level of about 1.2 million barrels.
The development was announced by the company’s Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, while speaking at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.
Speaking during an Energy Talk on the theme, “Nigeria’s Reform Agenda: Competing for Energy Capital,” Ojulari said the progress reflected the impact of ongoing reforms and improved cooperation between NNPC Limited and its partners.
He identified the Petroleum Industry Act (PIA) 2021, improved investment conditions and better investment decisions as major factors responsible for the increase in production.
The NNPC chief executive said the company was determined to achieve the national target of 2 million barrels per day by 2027.
He explained that the strategy involved sustaining existing production, maintaining critical infrastructure, improving output from operational assets and completing projects capable of increasing crude oil production.
Ojulari described the current production level as an important step towards achieving the country’s broader oil production ambitions.
Addressing developments in the domestic energy market, he said the Federal Government’s decision to remove petrol subsidy had been complemented by efforts to expand the use of natural gas through the CNG programme.
He disclosed that Nigeria now had more than 400 CNG conversion centres, while over 1,000 petroleum product transportation trucks had been converted to use compressed natural gas.
He also confirmed the completion of the OB3 gas pipeline in August 2026, describing it as an important development in strengthening the country’s gas infrastructure.
According to him, the AKK pipeline is expected to supply gas to Abuja before the end of 2026, providing support for electricity generation, data centres and industrial activities.
On the company’s operational performance, Ojulari said the NNPC Board and management were focused on fulfilling the mandate assigned to the company by President Bola Ahmed Tinubu.
He explained that management had conducted a baseline assessment of the company’s assets and infrastructure to identify operational strengths and areas requiring urgent attention.
“Our track record will be judged by what is done and not by what is said,” he declared.
The NNPC boss also highlighted Nigeria’s ambition to become a major regional gas supplier, revealing that participating countries in the Nigeria-Morocco Gas Pipeline project had completed the necessary agreements.
He further disclosed that Nigeria, Algeria and Niger had aligned on plans for the Trans-Saharan Gas Pipeline project.
Ojulari said the company was targeting national gas production of 10 billion standard cubic feet per day by 2027, with a further increase to 12 billion standard cubic feet per day by 2030.
He noted that achieving the targets would depend on expanding domestic gas utilisation and developing export markets.
On foreign investments, the NNPC chief executive cited TotalEnergies’ Ubeta, Shell’s Bonga South-West and Eni’s Zabazaba projects as examples of major developments attracting international energy investors to Nigeria.
He revealed that commercial agreements covering approximately $20 billion in investments had been concluded.
Ojulari added that NNPC Limited was strengthening its international partnerships, including engagements with the Abu Dhabi National Oil Company (ADNOC), Chinese investors in Nigeria’s refineries and global oilfield service companies.
He reaffirmed the company’s commitment to transparency, accountability and execution excellence, pointing to its two consecutive earnings calls as evidence of efforts to improve corporate governance.
The 2026 ADIPEC was hosted by ADNOC under the patronage of UAE President, Sheikh Mohamed bin Zayed Al Nahyan.
The event brought together over 239,000 participants from more than 170 countries, including ministers, chief executives, investors and technology experts, to deliberate on global energy security, investment and supply challenges.
