The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to achieving a production target of two million barrels of crude oil per day (bpd) by the year 2027, as part of its long-term strategy to revive Nigeria’s upstream oil sector and strengthen energy security.
The state-owned oil company made this known at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025, where it presented Nigeria’s roadmap for increased production, investment expansion, and sustainable energy growth.
Speaking at the event, the Executive Vice-President, Upstream, NNPCL, Udy U. Ntia, said the company was fully focused on restoring Nigeria’s production capacity, which has suffered setbacks in recent years due to oil theft, vandalism, and underinvestment in critical infrastructure. Ntia explained that Nigeria currently produces between 1.6 and 1.7 million barrels per day, but was optimistic that ongoing reforms and strategic partnerships would make the 2 million bpd target achievable within two years.
He stated, “Our goal is clear — to sustainably increase Nigeria’s crude oil output to two million barrels per day by 2027. We are implementing policies, partnerships, and investment strategies that will guarantee this outcome. Beyond 2027, our long-term vision is to reach three million barrels per day as part of our drive for national energy security and economic transformation.”
According to Ntia, the company’s upstream strategy focuses not only on expanding production volumes but also on ensuring operational efficiency, cost-effectiveness, and environmental sustainability. He stressed that NNPCL was working closely with international oil companies (IOCs), indigenous producers, and financial institutions to mobilize investment capital for exploration, infrastructure rehabilitation, and new field development.
The NNPCL executive further explained that the company’s ongoing reforms were anchored on collaboration and transparency. “We have shifted from a model of isolation to one of partnership. The future of Nigeria’s oil industry lies in co-investment, technology sharing, and alignment with global best practices,” he said.
In addition to crude oil, NNPCL is also strengthening its focus on natural gas development as part of Nigeria’s energy transition plan. The company has embarked on key gas infrastructure projects such as the Ajaokuta–Kaduna–Kano (AKK) pipeline, the Nigeria–Morocco Gas Pipeline, and several domestic distribution networks aimed at expanding gas utilization for power generation and industrial use.
Ntia emphasized that these initiatives are aligned with President Bola Tinubu’s “Renewed Hope Agenda,” which prioritizes energy sector reform, job creation, and sustainable growth. “We are committed to ensuring that our operations contribute meaningfully to Nigeria’s economic stability. As we increase production, we are also embracing cleaner energy technologies and reducing emissions in line with our decarbonization roadmap,” he said.
Industry observers have lauded NNPCL’s ambition, noting that meeting the 2 million bpd target would help Nigeria regain its position as Africa’s leading oil producer and strengthen foreign exchange earnings. However, experts have also cautioned that achieving this target will depend on addressing persistent challenges such as oil theft, pipeline vandalism, and the poor state of Nigeria’s refining capacity.
Energy economist Dr. Bala Zakka said, “Nigeria has the reserves to produce over two million barrels daily, but the problem has always been security and infrastructure. The government and NNPCL must sustain surveillance, restore investor confidence, and improve transparency to make this goal realistic.”
The company’s renewed optimism follows a series of strategic steps taken in recent months, including new production-sharing agreements, rehabilitation of critical pipelines, and the introduction of surveillance contracts to curb crude theft. NNPCL has also intensified collaboration with security agencies and host communities in the Niger Delta to protect oil assets and ensure uninterrupted production.
As part of its global outreach, NNPCL is also wooing investors to participate in new upstream projects. The company said it was targeting $60 billion in fresh investments by 2030, covering exploration, field development, gas infrastructure, and renewable energy projects.
Despite optimism, analysts note that the oil market’s volatility and the global shift toward renewable energy could affect Nigeria’s long-term prospects. They urged the government to balance its production expansion goals with a deliberate investment in clean energy to avoid being left behind in the global energy transition.
For now, NNPCL maintains that Nigeria’s path to 2 million barrels per day is not merely aspirational but achievable through deliberate planning, robust partnerships, and strategic investment. “We are confident that with the reforms we are implementing, Nigeria’s upstream sector will not only recover but will thrive sustainably,” Ntia concluded.
If successfully realized, the target will mark one of the most significant turnarounds in Nigeria’s oil industry in more than a decade, reaffirming the country’s place in global energy markets and boosting its fiscal stability.
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