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NNPC says crude oil production has increased from about 1.2 million barrels per day to 1.8 million barrels per day, with a target of 2 million barrels per day by 2027.
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The company is targeting gas production of 10 billion standard cubic feet per day by 2027 and 12 billion by 2030.
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NNPC says commercial agreements covering about $20 billion in investment have been concluded for major oil and gas projects.
November 03, (THEWILL) – The Nigerian National Petroleum Company Limited (NNPC) has said reforms in the oil and gas sector have helped raise Nigeria’s crude oil production by 600,000 barrels per day, from about 1.2 million bpd to 1.8 million bpd.
The Group Chief Executive Officer of NNPC, Bashir Bayo Ojulari, disclosed this on Tuesday during an energy talk titled “Nigeria’s Reform Agenda: Competing for Energy Capital” at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.
Ojulari attributed the increase to the implementation of the Petroleum Industry Act (PIA) 2021, improved investment conditions, better investment decisions, and closer collaboration between NNPC and its partners.
He said the company was targeting production of 2 million bpd by 2027, with efforts focused on maintaining infrastructure, protecting existing production and advancing projects expected to add new volumes.
“The figure of 1.8 million barrels per day is a stage in a journey towards our objective. We are concentrating on the basics, which are maintaining our infrastructure, protecting base operations and executing the projects that will take production higher,” he said.
Gas projects and domestic supply
On domestic energy supply, Ojulari said the removal of petrol subsidy had been accompanied by a CNG programme, which has established more than 400 conversion centres.
He added that over 1,000 trucks transporting petroleum products now run on compressed natural gas.
He also said the Obiafu-Obrikom-Oben (OB3) gas pipeline was completed in August 2026, while the Ajaokuta-Kaduna-Kano (AKK) pipeline was expected to begin delivering gas to Abuja before the end of the year.
According to him, the projects are expected to support power generation, data centres and industrial hubs.
NNPC is targeting national gas production of 10 billion standard cubic feet per day by 2027 and 12 billion standard cubic feet per day by 2030. Ojulari said achieving these targets would require the development of both domestic and export markets.
He also said countries involved in the proposed Nigeria-Morocco Gas Pipeline had aligned and executed the necessary agreements, while Nigeria, Algeria and Niger had reached alignment on the development of the Trans-Saharan Gas Pipeline.
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$20bn investment agreements
On efforts to attract international capital, Ojulari cited projects including TotalEnergies’ Ubeta development, Shell’s Bonga South-West project and Eni’s Zabazaba development.
He said commercial agreements covering approximately $20 billion in investment had been concluded, although he did not provide a breakdown of the projects or their respective investment commitments.
The NNPC chief executive also disclosed that the company was building relationships with new partners, including the Abu Dhabi National Oil Company (ADNOC) and Chinese investors in Nigeria’s refineries.
It is also working with international oilfield service companies to expand service capacity in the country.
Ojulari said NNPC’s board and management were working to meet the company’s projections under the mandate given to it by President Bola Tinubu.
He added that management had completed a baseline assessment of the company’s assets and infrastructure to identify strengths and areas requiring improvement.
“Our track record will be judged by what is done and not by what is said,” he said.
He also cited two consecutive earnings calls as part of efforts to improve transparency and accountability.
The 2026 ADIPEC, hosted by ADNOC, brought together more than 239,000 participants from over 170 countries to discuss energy security, investment, and supply.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
