The Nigerian National Petroleum Company Limited (NNPC) has reaffirmed its ambition to ramp up crude oil production to 2 million barrels per day (bpd) by 2027, with projections to attract up to $60 billion in fresh energy investments by 2030.
Group Chief Executive Officer of NNPC, Mr Bayo Ojulari, made the declaration during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), hosted in the United Arab Emirates.
Speaking alongside Pulitzer Prize-winning energy author Daniel Yergin, Ojulari described Nigeria as “a pivotal force in Africa’s energy landscape,” adding that NNPC is “the linchpin in the continent’s push for energy sufficiency.”
He disclosed that Nigeria’s current oil output stands at 1.7 million bpd, with plans to reach 2 million bpd in two years and 3 million bpd in the long term. According to him, this growth is being driven by “redefined relationships with Independent Oil Companies and the removal of legacy blockers.”
Ojulari said NNPC is working closely with OPEC partners, African National Oil Companies, and global financial institutions to unlock capital for deep-water exploration, dry gas development, and cost-efficient production.
“New incentives beyond the Petroleum Industry Act are already attracting capital,” he noted, citing the near-completion of key gas infrastructure projects such as the Ajaokuta-Kaduna-Kano (AKK) pipeline and the Obiafu-Obrikom-Oben (OB3) corridor.
He also highlighted the rollout of cleaner energy initiatives including the Presidential CNG Programme and expansion of autogas corridors, describing them as “critical steps in Nigeria’s energy transition.”
Under President Bola Tinubu’s Renewed Hope Agenda, Ojulari said Nigeria is shifting from an extractive model to a diversified, investment-driven energy economy.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose,” he stated. “At NNPC Limited, we are not just participating in the energy transition, we are shaping it from an African perspective.”
Ojulari echoed the remarks of UAE Minister of Industry and ADNOC CEO, Dr Sultan Ahmed Al Jaber, who called for “pragmatic, not performative” energy policies and urged global stakeholders to invest in Africa’s energy transformation.
“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future,” Ojulari declared.
NNPC’s presence at ADIPEC 2025, themed “Energy. Intelligence. Impact,” marks its evolution into a commercially-driven, globally-engaged energy company. The firm’s exhibition booth was visited by a high-level delegation led by Ojulari, alongside Executive Vice President, Business Services, Sophia Mbakwe, and other senior officials.
The GCEO also participated in a closed-door session of the Global Oil Club, where he called for co-investment strategies to de-risk energy infrastructure and end energy poverty across Africa.
“Africa’s energy future must be built on collaboration, innovation, and inclusion,” he said. “NNPC Limited stands ready to co-create solutions that will deliver real impact.”
Also speaking at the conference, Executive Vice President, Upstream, Mr Udy Ntia, featured in the Global Strategy Session titled Beyond the Barrel: The Future of Upstream Strategy. He affirmed NNPC’s readiness to co-invest in industry-wide solutions and accelerate Nigeria’s oil and gas output in line with national and regional mandates.
