NNPC Targets 3 Million Barrels Daily Output as Nigeria Seeks $60bn Energy Investment by 2030

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that the country’s crude oil production has risen to 1.7 million barrels per day, with ambitious plans to reach 2 million bpd by 2027 and 3 million bpd in the long term.

Group Chief Executive Officer, Bashir Ojulari, made this known on Tuesday during the “Energy Talk” session at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates, according to Channels Television.

In a statement signed by Andy Odeh, Chief Corporate Communications Officer of NNPC Ltd, Ojulari attributed the company’s output growth to strengthened partnerships with international oil companies and indigenous operators, the resolution of long-standing challenges, and a renewed commitment to shared value creation.

He reiterated NNPC Ltd’s readiness to collaborate with OPEC members, African national oil firms, and global financial institutions to attract between $30 billion and $60 billion in fresh energy investments by 2030.

Ojulari added that new government incentives, complementing the Petroleum Industry Act (PIA), are already drawing investors into deep-water exploration, gas development, and cost-reduction initiatives.

Highlighting ongoing national energy projects, he pointed to the revival of upstream operations, expansion of gas infrastructure — including the nearly completed Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) pipelines — and the rollout of cleaner energy solutions through the Presidential CNG Initiative and autogas corridor expansion.

He called on global investors to partner with Nigeria in addressing energy poverty across Africa, describing Nigeria as a “central player in the continent’s energy landscape” and NNPC Ltd as “the linchpin for achieving Africa’s energy sufficiency.”

Ojulari emphasized that under President Bola Tinubu’s Renewed Hope Agenda, Nigeria is pursuing a shift from an extractive economy to a diversified, investment-driven energy hub.

“Africa’s energy future must be guided by pragmatism, partnerships, and purpose,” Ojulari said. “At NNPC Limited, we’re not just part of the energy transition — we’re shaping it from an African perspective. Our focus is clear: grow production, monetize gas, deepen partnerships, and deliver value to Nigerians and global partners alike.”

He also echoed the views of UAE Minister of Industry and ADNOC CEO, Sultan Ahmed Al Jaber, who urged for “pragmatic, not performative” energy strategies and called for $4 trillion in annual global energy investments.

Concluding, Ojulari affirmed: “Nigeria is open for business, and NNPC Limited is fit for the future. We invite the world to co-invest in Africa’s energy transformation.”

The 2025 ADIPEC conference, themed “Energy. Intelligence. Impact,” marks the 41st edition of one of the world’s largest energy gatherings hosted annually by ADNOC.