ADIPEC 2026: We have added 600,000 bpd to oil output — Ojulari
— says reforms have positioned Nigeria for new energy investment
The Nigerian National Petroleum Company Limited (NNPC Limited) says reforms in Nigeria’s oil and gas sector have added 600,000 barrels per day (bpd) to national crude oil production, raising output from about 1.2 million bpd to 1.8 million bpd and positioning the country to attract more international energy investment.
Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, disclosed this on Tuesday during an Energy Talk titled “Nigeria’s Reform Agenda: Competing for Energy Capital” at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates. The session was moderated by John Defterios, Chairman, MENA, APCO.
Ojulari attributed the production growth to the implementation of the Petroleum Industry Act (PIA) 2021, an improved investment climate, better investment decisions and closer collaboration between NNPC Limited and its partners.
He said the company was working towards achieving a production target of two million bpd by 2027 through infrastructure maintenance, protection of existing production, increased output from producing assets and the execution of new projects.
“The figure of 1.8 million barrels per day is a stage in a journey towards our objective. We are concentrating on the basics, which are maintaining our infrastructure, protecting base operations and executing the projects that will take production higher,” Ojulari said.
On the domestic market, the GCEO said the removal of the petrol subsidy had been accompanied by a major compressed natural gas (CNG) programme, with more than 400 CNG conversion centres established and over 1,000 trucks used for transporting petroleum products now running on CNG.
He added that the Obiafu-Obrikom-Oben (OB3) gas pipeline was completed in August 2026, while the Ajaokuta-Kaduna-Kano (AKK) pipeline was expected to deliver gas to Abuja before the end of the year to support power generation, data centres and industrial hubs.
Ojulari said the NNPC Limited board and management were working to meet the company’s projections in line with the mandate given to it by President Bola Tinubu. He added that a baseline assessment of its assets and infrastructure had given management a clearer understanding of the company’s strengths and areas requiring improvement.
“Our track record will be judged by what is done and not by what is said,” he stated.
On regional gas supply, Ojulari said countries involved in the Nigeria-Morocco Gas Pipeline had aligned and signed the necessary agreements, while Nigeria, Algeria and Niger had also aligned on the development of the Trans-Saharan Gas Pipeline.
He said NNPC Limited was targeting national gas production of 10 billion standard cubic feet per day by 2027 and 12 billion standard cubic feet per day by 2030, supported by the development of domestic and export markets for Nigerian gas.
The GCEO also cited major projects attracting international investment, including TotalEnergies’ Ubeta, Shell’s Bonga South-West and Eni’s Zabazaba developments. He said commercial agreements covering about $20 billion in investment had been concluded.
He added that NNPC Limited was building new partnerships with companies, including the Abu Dhabi National Oil Company (ADNOC) and Chinese investors in Nigeria’s refineries, while working with global service companies to expand capacity in the country’s oil and gas sector.
Ojulari reaffirmed the company’s commitment to execution and transparency, citing two consecutive earnings calls held by NNPC Limited.
The 2026 ADIPEC, hosted by ADNOC under the patronage of United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan, brought together more than 239,000 participants from over 170 countries, including ministers, chief executives, investors and technology leaders, to discuss energy security, investment and supply.
Credit: NNPC
