The Nigerian National Petroleum Company Limited (NNPC) has attributed a significant increase in Nigeria’s crude oil production to ongoing reforms in the petroleum industry, disclosing that output has risen by 600,000 barrels per day, from approximately 1.2 million to 1.8 million barrels.
The state-owned oil company said the improvement reflected the impact of the Petroleum Industry Act (PIA), better investment conditions and stronger collaboration with industry stakeholders, adding that the developments had strengthened Nigeria’s position in the competition for international energy investments.
The Group Chief Executive Officer of NNPC Limited, Bashir 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.
The development was contained in a statement issued by NNPC’s Chief Corporate Communications Officer, Andy Odeh.
According to the statement, the production increase represents an important milestone in Nigeria’s efforts to revive its oil industry, attract fresh investments and restore the country’s position as a major crude oil producer.
Speaking during a session moderated by John Defterios, Chairman of MENA at APCO, Ojulari said NNPC was targeting crude oil production of two million barrels per day by 2027.
He explained that achieving the target would require sustained attention to existing production facilities, improved infrastructure maintenance, protection of ongoing operations and the timely completion of new development projects.
The NNPC chief described the current production level of 1.8 million barrels per day as a significant achievement but cautioned that maintaining the momentum would depend on the company’s ability to address operational challenges and execute its investment plans.
“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 stated.
Nigeria’s latest production improvement comes against the backdrop of years of declining output, largely attributed to crude oil theft, pipeline vandalism, underinvestment and operational disruptions across the country’s oil-producing regions.
The challenges have repeatedly prevented Nigeria from consistently meeting its Organisation of Petroleum Exporting Countries (OPEC) production quota, despite crude oil remaining one of the country’s most important sources of foreign exchange earnings.
Ojulari attributed the recent recovery to the implementation of the Petroleum Industry Act, 2021, improved investment decisions and closer cooperation between NNPC and its industry partners.
He said the company’s management and board remained committed to delivering on the expectations contained in the mandate given to it by President Bola Tinubu.
The GCEO disclosed that a comprehensive baseline assessment of NNPC’s assets and infrastructure had helped the management identify the company’s operational strengths, understand its investment portfolio and determine areas requiring urgent intervention.
He emphasised that the company’s performance would ultimately be measured by tangible results rather than promises.
“Our track record will be judged by what is done and not by what is said,” Ojulari stated.
NNPC expands CNG initiative, targets increased gas production
On developments in the domestic energy market, Ojulari highlighted the expansion of the compressed natural gas (CNG) programme following the removal of the petrol subsidy.
He said the initiative was designed to reduce Nigeria’s dependence on petrol and diesel, promote the utilisation of locally available natural gas and provide alternative energy options for transportation and other economic activities.
According to him, more than 400 CNG conversion centres have been established across the country, while over 1,000 trucks involved in the transportation of petroleum products have been converted to run on natural gas.
He said the programme was expected to help reduce transportation costs and support the transition towards more affordable domestic energy alternatives.
The NNPC boss also provided updates on major gas infrastructure projects, disclosing that the Obiafu-Obrikom-Oben gas pipeline was completed in August 2026.
He added that the Ajaokuta-Kaduna-Kano (AKK) gas pipeline was expected to commence gas delivery to Abuja before the end of the year.
The projects, he explained, would strengthen domestic gas distribution and provide additional supplies for electricity generation, data centres and industrial activities.
Ojulari further disclosed that NNPC 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 stressed that achieving the projections would require the development of both domestic consumption and export markets to ensure that increased gas production translated into economic growth and improved energy security.
NNPC advances regional gas export projects
The GCEO also highlighted progress on Nigeria’s regional gas export ambitions, particularly the proposed Nigeria-Morocco Gas Pipeline and the Trans-Saharan Gas Pipeline.
He said countries participating in the Nigeria-Morocco project had aligned their positions and executed the necessary agreements, while Nigeria, Algeria and Niger had also reached an understanding on the development of the Trans-Saharan Gas Pipeline.
The proposed projects are expected to deepen regional energy cooperation, expand access to Nigeria’s natural gas resources and create additional opportunities for exports to international markets.
Ojulari said the initiatives formed part of the country’s broader strategy to maximise its gas resources and strengthen its influence in the global energy market.
NNPC identifies $20bn investment opportunities
On efforts to attract foreign capital into Nigeria’s petroleum industry, Ojulari pointed to several major upstream projects involving international energy companies as evidence of renewed investor confidence.
Among the projects he highlighted were TotalEnergies’ Ubeta development, Shell’s Bonga South-West project and Eni’s Zabazaba development.
He disclosed that commercial agreements covering approximately $20bn in investments had been concluded, describing the development as an indication of growing interest in Nigeria’s oil and gas sector.
The NNPC chief said the company was also establishing new relationships with international energy companies and investors, including the United Arab Emirates’ national oil company, ADNOC, as well as Chinese investors interested in opportunities within Nigeria’s refinery sector.
He added that NNPC was engaging international oilfield service companies to strengthen local technical expertise, improve operational efficiency and expand the country’s capacity to deliver major petroleum projects.
According to him, attracting more investments and building productive partnerships would be essential to sustaining the current production recovery and achieving the company’s long-term objectives.
Ojulari also reaffirmed NNPC’s commitment to transparency and accountability, citing two consecutive earnings calls organised by the company as part of efforts to improve communication with investors and other stakeholders.
He said the company would continue to strengthen its engagement with the investment community as it pursued its production and expansion targets.
The 2026 Abu Dhabi International Petroleum Exhibition and Conference, held under the patronage of UAE President 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 representatives, energy executives, investors, policymakers and technology leaders to examine investment opportunities, energy security and emerging developments shaping the global oil and gas industry.
Nigeria’s participation provided an opportunity for NNPC to showcase the impact of ongoing industry reforms, highlight investment opportunities and position the country as a competitive destination for international energy capital.
