NNPC plans $60bn investment drive, 3mbpd crude production by 2030 

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Bashir Ojulari, has pledged to attract a staggering $60 billion in investments into Nigeria’s oil and gas sector by 2030, with a near-term milestone of $30 billion by 2027. This ambitious target forms part of a sweeping transformation agenda aimed at scaling up crude oil production and enhancing the energy landscape of Africa’s largest economy. The News Agency of Nigeria (NAN) reports that Ojulari made this commitment during a town hall meeting with NNPC Ltd. staff in Abuja, shortly after assuming office. His address, which sets a new tone for leadership in the company, demonstrates an urgent need to drive performance, foster innovation, and deliver tangible results.
“We stand at the gateway of a new era—one that demands courage, professionalism, and a relentless drive for excellence,” Ojulari declared. “Now is the time to turn our transformation promise into performance.” Crude Production, Refining, and Gas Expansion Targets Ojulari disclosed that NNPC Ltd., under his stewardship, is targeting a crude oil production level of over two million barrels per day (bpd) sustained through 2027, with a vision to ramp up production to three million bpd by 2030. In refining, the new GCEO outlined plans to expand Nigeria’s domestic refining capacity to 200,000 bpd by 2027, scaling up to 500,000 bpd by 2030. This is seen as a critical step toward achieving energy self-sufficiency and reducing reliance on imported petroleum products.
On the gas front, Ojulari revealed that gas production is projected to grow to 10 billion cubic feet (bcf) per day by 2027, reaching 12 bcf per day by 2030. This aligns with Nigeria’s decade of gas agenda and its broader transition towards cleaner and more sustainable energy sources. The GCEO emphasised a radical restructuring of the company’s business architecture to improve agility, enhance value creation, and embrace performance management. “To achieve these targets, we will reconfigure our business structure, conduct independent value assessments for data-driven decision-making, and enforce a robust performance management framework,” Ojulari said.  A key aspect of the transformation agenda is building transparent and value-aligned partnerships with both domestic and international stakeholders, and reclaiming control of NNPC Ltd.’s narrative as a dynamic and forward-looking energy company.
He further highlighted the strategic importance of the targets, describing them as “indicators of hope, jobs, industrial growth, and energy security for millions of Nigerians.” Ojulari pledged a strong commitment to employee development and empowerment, vowing to build a high-performing workforce that thrives on excellence and collaboration.
“Our success will be powered by empowered employees. We will provide the best environment where both experienced professionals and young talents can thrive,” he assured.  He called on all staff to lead with integrity, act with urgency, and commit fully to the company’s new direction. The GCEO also reaffirmed his commitment to deepening collaboration with staff unions, fostering a culture of mutual trust and shared purpose.