The Nigerian National Petroleum Company (NNPC) Limited yesterday reiterated the commitment of the company to raise Nigeria's oil output to 2 million by 2027 and 3 million in the long term having achieved 1.7 million barrels per day in recent times.
Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, spoke at the "Energy Talk" session of the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) taking place in Abu Dhabi, United Arab Emirates (UAE).
He stated that the growth was driven by redefined relationships with IOCs and independents, removing legacy blockers and aligning on shared value.
He also called for bold global partnerships and investments to end the phenomenon of energy poverty across Africa.
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In a statement by NNPCL's Chief Corporate Communications Officer, Andy Odeh, Ojulari highlighted Nigeria's vast oil, gas, and renewable energy potentials, stressing that under President Bola Tinubu's Renewed Hope Agenda there are concerted efforts to transform Nigeria from an extractive economy to a diversified, investment-driven energy hub.
"Africa's energy future must be built on pragmatism, partnerships, and purpose. At NNPC Limited, we are not just participating in the energy transition, we are shaping it from an African perspective. Our focus is pragmatic: grow production, monetize gas, deepen partnerships, and deliver value to Nigerians and global partners alike," Engr. Ojulari stated.
He explained that NNPC Limited has raised Nigeria's oil output to 1.7 million barrels per day, with targets of 2 million by 2027 and 3 million in the long term, a growth that is driven by redefined relationships with IOCs and independents, removing legacy blockers and aligning on shared value.
Reaffirming the company's commitment to working with OPEC peers, African NOCs, and financial institutions to attract $30 - $60 billion in fresh investment by 2030, Ojulari said new government incentives beyond the Petroleum Industry Act (PIA) are already attracting capital for deep-water exploration, dry gas development, and cost reduction.
He spotlighted some of the nation's high-profile energy initiatives such as upstream revival through accelerated new fields development, gas infrastructure expansion, including the near-completion of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and the Obiafu-Obrikom-Oben (OB3), and the rollout of cleaner energy, including the Presidential CNG Initiative and expansion of autogas corridors.
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