…Ojulari says reforms, new investments drive production growth
The Nigerian National Petroleum Company Limited (NNPC Limited) says Nigeria has increased crude oil production by 600,000 barrels per day, moving from about 1.2 million barrels per day to 1.8 million barrels per day, as the country steps up efforts to attract fresh investment into its oil and gas industry.
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The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, disclosed this on Tuesday, November 3, 2026, at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates. He said the company was working towards raising national production to two million barrels per day by 2027.
Key Highlights
- NNPC says Nigeria’s crude oil production has risen by 600,000 barrels per day to 1.8 million bpd.
- The company targets two million barrels per day by 2027.
- Ojulari attributes the increase to reforms under the Petroleum Industry Act and improved industry partnerships.
- NNPC targets gas production of 10 billion standard cubic feet per day by 2027.
- Commercial agreements covering about $20 billion in investment have reportedly been concluded.
- More than 400 CNG conversion centres have been established, according to the NNPC chief.
- The OB3 gas pipeline was completed in August 2026, while the AKK pipeline is expected to deliver gas to Abuja before the end of the year.
NNPC Attributes Oil Production Growth to Petroleum Industry Reforms
Speaking during an Energy Talk titled “Nigeria’s Reform Agenda: Competing for Energy Capital”, Ojulari attributed the reported increase in crude oil production to the implementation of the Petroleum Industry Act (PIA) 2021, an improved investment climate, better investment decisions and closer collaboration between NNPC Limited and its partners.
The session was moderated by John Defterios, Chairman, MENA, APCO.
Ojulari said the company was concentrating on maintaining existing infrastructure, protecting current production levels, increasing output from producing assets and executing new projects expected to raise national production.
“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.
He added that NNPC’s Board and management were working to meet the projections contained in the mandate given to the company by President Bola Ahmed Tinubu.
According to him, a baseline assessment of the company’s assets and infrastructure had provided management with a clearer understanding of its strengths and areas requiring improvement.
“Our track record will be judged by what is done and not by what is said,” Ojulari stated.
Nigeria Targets 2 Million Barrels Per Day by 2027
The NNPC chief said the company was pursuing a target of two million barrels of crude oil per day by 2027.
He explained that achieving the target would require sustained investment in existing facilities, improved protection of production infrastructure and the timely execution of projects designed to increase output.
The production increase, if sustained, would strengthen Nigeria’s position in the international energy market and improve its prospects of attracting investment, particularly as global energy companies assess opportunities across Africa.
Ojulari cited major projects, including TotalEnergies’ Ubeta development, Shell’s Bonga South-West project and Eni’s Zabazaba development, as examples of international interest in Nigeria’s energy sector.
He said commercial agreements covering approximately $20 billion in investment had been concluded.
NNPC Reports Progress in CNG and Gas Infrastructure
On the domestic energy market, Ojulari said the removal of the petrol subsidy had been accompanied by a major compressed natural gas (CNG) programme.
He disclosed that more than 400 CNG conversion centres had been established, while over 1,000 trucks involved in the transportation of petroleum products were now operating on CNG.
The NNPC chief also announced progress on major gas infrastructure projects.
He said the Obiafu-Obrikom-Oben (OB3) gas pipeline was completed in August 2026, while the Ajaokuta-Kaduna-Kano (AKK) pipeline was expected to deliver gas to Abuja before the end of the year.
According to him, the gas supply would support power generation, data centres and industrial hubs.
Nigeria Targets 12 Billion Cubic Feet of Gas by 2030
Ojulari said NNPC Limited was targeting national gas production of 10 billion standard cubic feet per day by 2027 and 12 billion standard cubic feet per day by 2030.
He said the targets would be supported by the development of domestic and export markets for Nigerian gas.
On regional energy cooperation, he disclosed that countries involved in the proposed Nigeria-Morocco Gas Pipeline had aligned and executed the necessary agreements.
He also said Nigeria, Algeria and Niger had aligned on the development of the Trans-Saharan Gas Pipeline.
The projects are expected to strengthen regional gas trade and expand opportunities for the export of Nigerian gas.
Read also:
- Nigeria Offers 40 Oil and Gas Blocks to Investors in 2026 Licensing Round, Opens Bid Portal November 20
- Nigeria Targets $21bn Investment, 175,000bpd From Bonga Southwest Project
- AKK Gas Pipeline Reaches Abuja, as NNPC Targets Phased Commissioning In 2026
NNPC Seeks New Partnerships with ADNOC, Chinese Investors
Ojulari said NNPC Limited was building new relationships with international partners, including the Abu Dhabi National Oil Company (ADNOC) and Chinese investors involved in Nigeria’s refinery sector.
He added that the company was also working with global service companies to expand the capacity of oil and gas service providers operating in Nigeria.
He said the company remained committed to transparency and execution, pointing to two consecutive earnings calls held by NNPC Limited as part of its engagement with stakeholders.
The 2026 Abu Dhabi International Petroleum Exhibition and Conference, held under the patronage of United Arab Emirates President, Sheikh Mohamed bin Zayed Al Nahyan, and hosted by ADNOC, brought together more than 239,000 participants from over 170 countries.
The gathering included government ministers, chief executives, investors and technology leaders who discussed energy security, investment and global supply.
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