Nigeria’s Vision for Energy Growth and Global Partnerships
The Nigerian National Petroleum Company (NNPC) Limited has once again emphasized its commitment to increasing Nigeria’s oil production to 2 million barrels per day by 2027 and potentially reaching 3 million in the long term. This ambition comes after recent achievements where the company managed to produce 1.7 million barrels of oil per day.
This statement was made by the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, during the “Energy Talk” session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), held in Abu Dhabi, United Arab Emirates (UAE).
Ojulari highlighted that the growth in production is driven by redefined relationships with international oil companies (IOCs) and independent operators. He also pointed out that removing legacy obstacles and aligning on shared value have been key factors in this progress.
He further called for bold global partnerships and investments to address the issue of energy poverty across Africa. These efforts are seen as essential to ensuring that the continent can meet its growing energy demands while also promoting sustainable development.
In a statement released by the Chief Corporate Communications Officer of NNPCL, Andy Odeh, Ojulari emphasized Nigeria’s vast potential in oil, gas, and renewable energy. He stressed that under President Bola Tinubu’s Renewed Hope Agenda, there are concerted efforts to transition 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.
Strategic Goals and Investments
Ojulari explained that NNPC Limited has successfully raised Nigeria’s oil output to 1.7 million barrels per day. The company aims to increase this to 2 million by 2027 and eventually reach 3 million in the long term. This growth is attributed to improved relationships with IOCs and independents, as well as the removal of legacy barriers and the alignment on shared value.
Reaffirming the company’s commitment to working with OPEC peers, African national oil companies (NOCs), and financial institutions, Ojulari mentioned that the goal is to attract $30 – $60 billion in fresh investment by 2030. He noted that new government incentives beyond the Petroleum Industry Act (PIA) are already attracting capital for deep-water exploration, dry gas development, and cost reduction.
Key Energy Initiatives
Ojulari spotlighted several high-profile energy initiatives in Nigeria. These include upstream revival through accelerated new fields development, gas infrastructure expansion, and the rollout of cleaner energy solutions.
Some of the notable projects include:
- The near-completion of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline.
- The Obiafu-Obrikom-Oben (OB3) gas pipeline.
- The Presidential CNG Initiative, which promotes the use of compressed natural gas.
- Expansion of autogas corridors to support cleaner transportation options.
These initiatives are part of a broader strategy to diversify Nigeria’s energy mix and ensure sustainable development.
Future Outlook and Opportunities
As Nigeria continues to position itself as a key player in the global energy market, the emphasis on strategic partnerships and investments remains crucial. The country’s vast energy resources and growing demand present significant opportunities for both domestic and international stakeholders.
With a focus on innovation, sustainability, and collaboration, Nigeria is well-positioned to achieve its energy goals and contribute to a more stable and prosperous African continent.