Table of Contents
- NNPCL's Commitment to Oil Production
- Ending Energy Poverty in Africa
- NNPCL at ADIPEC 2025
- Increase in Oil Output
- Attracting Investments
- Shaping Africa's Energy Future
The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to achieving a production rate of 2 million barrels per day (bpd) by 2027.
The company emphasized the need for bold global partnerships and investments to combat energy poverty throughout Africa.
Bayo Ojulari, the Group Chief Executive Officer of NNPC, made this statement on Tuesday during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in Abu Dhabi, United Arab Emirates (UAE).
In response to questions from the host and Pulitzer Prize-winning energy author, Daniel Yergin, the NNPCL leader highlighted Nigeria’s crucial role in the continent’s energy landscape.
Ojulari further elaborated that NNPC serves as a key player in the pursuit of energy sufficiency across Africa.
He noted that NNPC has raised Nigeria’s oil production to 1.7 million barrels per day, with aspirations to reach 2 million bpd by 2027 and 3 million bpd in the long term. This growth is fueled by redefined partnerships with Independent Oil Companies (IOCs) and independents, removing historical obstacles, and aligning on mutual benefits.
He reiterated the company’s dedication to collaborating with the Organisation of Petroleum Exporting Countries (OPEC), African National Oil Companies (NOCs), and financial institutions to secure $30 to $60 billion in new investments by 2030.
According to him, new government incentives beyond the Petroleum Industry Act (PIA) are already attracting capital for deep-water exploration, dry gas development, and cost reduction initiatives.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose. At NNPC Limited, we are not merely participating in the energy transition; we are actively shaping it from an African perspective,” he stated.
“Our focus is practical: increase production, monetize gas, strengthen partnerships, and provide value to both Nigerians and global partners alike.
“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is prepared for the future. We invite the world to co-invest in Africa’s energy transformation,” he added.
Frequently Asked Questions
What is NNPCL's oil production target for 2027?
NNPCL aims to achieve an oil production target of 2 million barrels per day by 2027.
How is NNPCL addressing energy poverty in Africa?
NNPCL is advocating for bold partnerships and investments to combat energy poverty across the continent.
What investments is NNPCL seeking by 2030?
NNPCL is looking to attract between $30 to $60 billion in new investments by 2030.
