By Seun Ibiyemi
The Nigerian National Petroleum Company Limited (NNPC Limited) has said reforms in Nigeria’s oil and gas sector have increased the country’s crude oil production by 600,000 barrels per day (bpd), from about 1.2 million bpd to 1.8 million bpd.
The Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, disclosed this on Tuesday at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates, where he said the production growth had strengthened Nigeria’s capacity to attract international energy investments.
Ojulari spoke during an Energy Talk session titled, “Nigeria’s Reform Agenda: Competing for Energy Capital,” moderated by John Defterios, Chairman, MENA, APCO.
He attributed the increase in crude oil output to the implementation of the Petroleum Industry Act (PIA) 2021, improvements in the investment climate, better investment decisions and stronger collaboration between NNPC and its industry partners.
The NNPC boss said the company was now working towards achieving Nigeria’s target of producing two million barrels of crude oil per day by 2027.
According to him, the strategy involves maintaining existing infrastructure, protecting base production, increasing output from producing assets and executing new projects expected to expand the country’s production capacity.
“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,” Ojulari said.
On developments in the domestic energy market, Ojulari said the removal of petrol subsidy had been accompanied by a major compressed natural gas (CNG) programme aimed at expanding the use of gas as an alternative fuel.
He disclosed that more than 400 CNG conversion centres had been established across the country, while over 1,000 trucks used for transporting petroleum products had been converted to run on CNG.
The NNPC GCEO also announced that 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.
He said the infrastructure projects would support power generation, data centres and industrial hubs, strengthening domestic gas utilisation and economic activities.
Ojulari further disclosed that NNPC Limited was targeting national gas production of 10 billion standard cubic feet per day (Bcf/d) by 2027 and 12 Bcf/d by 2030.
He said the targets would be supported by investments in gas infrastructure and the development of both domestic and international markets for Nigerian gas.
On regional gas export initiatives, he said countries participating in the Nigeria-Morocco Gas Pipeline project had aligned and executed the necessary agreements.
He added that Nigeria, Algeria and Niger had also reached an alignment on the development of the Trans-Saharan Gas Pipeline, another strategic project expected to strengthen regional energy cooperation and expand gas export opportunities.
Speaking on international investment interest in Nigeria’s oil and gas industry, Ojulari identified major 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 investments had been concluded, reflecting growing interest from international energy companies in Nigeria’s petroleum sector.
According to him, NNPC Limited was also building new partnerships with international investors, including the Abu Dhabi National Oil Company (ADNOC) and Chinese investors involved in Nigeria’s refinery sector.
He said the company was equally working with global oilfield service companies to expand service capacity in Nigeria and strengthen the support infrastructure required for increased production.
The NNPC chief executive said the company’s Board and management remained committed to delivering on the projections contained in the mandate given to it by President Bola Ahmed Tinubu.
He explained that management had conducted a baseline assessment of the company’s assets and infrastructure to establish a clearer understanding of its portfolio, identify existing strengths and determine areas requiring improvement.
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Ojulari also reaffirmed the company’s commitment to execution excellence and transparency, citing two consecutive earnings calls organised by NNPC Limited as part of efforts to improve corporate accountability.
“Our track record will be judged by what is done and not by what is said,” he stated.
He maintained that the company was focused on translating its investment plans and strategic commitments into measurable results.
The 2026 ADIPEC, held under the patronage of the President of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, and hosted by ADNOC, attracted more than 239,000 participants from over 170 countries.
The gathering brought together government ministers, energy executives, investors and technology leaders to discuss energy security, investment opportunities and developments in the global energy supply chain.
