NNPCL Targets 2 Million Barrels Daily by 2027, Seeks Global Partnerships to End Africa’s Energy Poverty

|By Babatunji Wusu

The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its target to raise crude oil production to 2 million barrels per day (bpd) by 2027, as part of an ambitious plan to tackle energy poverty and reposition Africa’s energy landscape.

Group Chief Executive Officer of NNPCL, Bayo Ojulari, announced this during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025 in the United Arab Emirates. Speaking with Pulitzer Prize-winning energy author Daniel Yergin, Ojulari underscored Nigeria’s central role in driving energy sufficiency across Africa.

Ojulari revealed that Nigeria’s oil output has climbed to 1.7 million bpd, with the 2 million bpd milestone expected by 2027 and a long-term goal of 3 million bpd. He attributed this progress to renewed collaboration with Independent Oil Companies (IOCs) and indigenous producers, as well as reforms that have eliminated legacy constraints and fostered shared value partnerships.

Reaffirming the company’s partnership drive, the NNPCL boss said the firm is working closely with OPEC members, African National Oil Companies (NOCs), and global financial institutions to attract between $30 and $60 billion in new investments by 2030.

He added that recent government incentives, introduced in addition to the Petroleum Industry Act (PIA), are already stimulating capital inflow for deep-water exploration, gas development, and cost reduction initiatives.

“Africa’s energy future must be built on pragmatism, partnerships, and purpose,” Ojulari said. “At NNPC Limited, we are not just participating in the energy transition — we are shaping it from an African perspective.”

He emphasized that NNPCL’s strategy centers on boosting production, monetizing gas resources, strengthening partnerships, and delivering value to Nigerians and global investors alike.

“Our message to the world is clear: Nigeria is open for business. NNPC Limited is fit for the future, and we invite the world to co-invest in Africa’s energy transformation,” Ojulari declared.