The Nigerian National Petroleum Company Limited (NNPCL) is setting its sights on significantly increasing crude oil output, with a target of producing three million barrels per day by the year 2030.
This was revealed by the company’s new Group Chief Executive Officer, Bashir Ojulari.
Ojulari, who recently assumed leadership at NNPCL, stated that production is expected to surpass two million barrels daily by 2027, with a steady increase to reach the three million mark by 2030.
In addition, he projected that the company would attract $30 billion in investments by 2027 and double that figure to $60 billion by 2030.
These targets were disclosed during a town hall session held with NNPCL staff in Abuja, where Ojulari expressed his vision for building a stronger and more impactful national oil company.
He also highlighted plans to scale up refining capacity, with the goal of processing 200,000 barrels per day by 2027 and 500,000 barrels per day by 2030.
As part of the company’s broader energy strategy, gas production is expected to rise to 10 billion cubic feet per day by 2027, and 12 billion cubic feet per day by 2030.
Ojulari noted that these developments are aimed at expanding energy access and making energy more affordable for Nigerians.
According to him, the outlined targets are not just performance indicators but are also meant to drive employment, support industrial expansion, and ensure long-term energy stability for the country.