Africa (Commonwealth Union) _ The Nigerian National Petroleum Company (NNPC) Limited has unveiled a bold roadmap to attract $60 billion in investments and increase daily crude oil production to three million barrels by 2030. Group Chief Executive Officer Bayo Ojulari outlined these ambitious targets during a town hall meeting at NNPC Towers in Abuja.
Ojulari detailed the strategic objectives aimed at transforming NNPC into a globally competitive energy company. According to him, by 2027, the company seeks to secure $30 billion in sectoral investments and increase oil production to over two million barrels per day (bpd). These goals will be scaled further by 2030, with targeted investment inflows hitting $60 billion and oil output reaching three million bpd.
Other goals include expanding refining capacity to 200,000 barrels per day (kbpd) by 2027 and 500 500kbpd by 2030, as well as boosting gas production from 10 billion cubic feet (bcf) daily in 2027 to 12 12bcf by the end of the decade. Ojulari also emphasized the importance of improving energy access and affordability for Nigerians.
To meet these benchmarks, NNPC will adopt a range of strategies. These include overhauling its business structure to foster agility and innovation, enforcing a robust performance management system, and conducting independent value assessments for data-driven decision-making. In addition, the company plans to build strong, transparent partnerships with stakeholders and take control of its public narrative.
“These targets represent more than just numbers,” Ojulari said. “They symbolize hope, job creation, industrial advancement, and energy security for Nigeria.”
He described NNPC Ltd. as a redefined and future-focused organization spearheading the country’s energy transformation. Urging staff to rally behind the transformation, Ojulari emphasized the need for collective effort, transparency, and accountability in achieving the company’s new goals.
He assured employees of a work environment that values both experience and youth, with a commitment to supporting all staff to reach peak performance. He also pledged to strengthen collaboration with internal and national unions to promote trust and inclusiveness.
“Our people are our most valuable asset,” Ojulari affirmed. “We are building a high-performance, world-class NNPC that is both proudly Nigerian and globally respected.”
