The Nigerian National Petroleum Company Limited (NNPCL) reaffirmed its pledge to reach 2 million barrels per day (bpd) of oil production by 2027, urging bold global partnerships and investments to eradicate energy poverty throughout Africa.
At the “Energy Talk” session of the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates, NNPC Group Chief Executive Officer Bayo Ojulari delivered these remarks.
Responding to questions from the host and Pulitzer Prize-winning energy author Daniel Yergin, the GCEO underscored Nigeria’s central role in Africa’s energy landscape, declaring that NNPC serves as the cornerstone for achieving energy self-sufficiency across the continent.
He noted that NNPC has boosted Nigeria’s oil production to 1.7 million barrels per day, aiming for 2 million bpd by 2027 and 3 million bpd over the longer term, a trajectory fueled by refreshed ties with Independent Oil Companies (IOCs) and independents, the elimination of longstanding obstacles, and alignment on mutual benefits.
He reiterated the company’s dedication to collaborating with OPEC counterparts, African National Oil Companies (NOCs), and financial institutions to secure $30–$60 billion in new capital by 2030.
Ojulari highlighted that fresh government incentives, building on the Petroleum Industry Act (PIA), are already drawing funds into deep-water exploration, dry-gas projects, and cost-efficiency measures.
He showcased flagship initiatives including the revival of upstream assets through fast-tracked field development, major gas-infrastructure growth—such as the nearly finished Ajaokuta-Kaduna-Kano (AKK) pipeline and the Obiafu-Obrikom-Oben (OB3) line—and the rollout of cleaner fuels via the Presidential CNG Initiative and expanded autogas networks.
Ojulari emphasized Nigeria’s immense oil, gas, and renewable resources, pointing out that President Bola Tinubu’s Renewed Hope Agenda is steering the country from raw extraction toward a diversified, investment-friendly energy powerhouse.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose. At NNPC Limited, we are not just participating in the energy transition, we are shaping it from an African perspective. Our focus is pragmatic: grow production, monetize gas, deepen partnerships, and deliver value to Nigerians and global partners alike,” Ojulari stated.
Mirroring the keynote by UAE Minister of Industry and ADNOC CEO Dr. Sultan Ahmed Al Jaber—who advocated “pragmatic, not performative” energy policies and stressed the need for $4 trillion in annual global energy investment—Ojulari called on international players to co-finance Africa’s energy evolution.
“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future and we invite the world to co-invest in Africa’s energy transformation,” he said.
NNPC declared that its participation in ADIPEC 2025 reflects its transformation into a profit-driven, globally active energy leader that powers Nigeria while helping chart the continent’s energy destiny.
ADIPEC, hosted by the Abu Dhabi National Oil Company (ADNOC) and one of the planet’s premier energy gatherings, carries the 2025 theme “Energy. Intelligence. Impact” in its 41st edition.
Days earlier, Ojulari guided a senior delegation through NNPC’s exhibition booth at ADIPEC, reinforcing the company’s resolve to forge worldwide alliances, advance energy equity, and secure sustainable capital.
Greeted by Executive Vice President, Business Services Sophia Mbakwe and other top officers, the GCEO’s tour—joined by the NNPC Board Chairman and directors—signaled cohesive leadership behind the company’s global outreach.
Ojulari also addressed a private gathering of the Global Oil Club, an elite assembly of top energy firms and institutions, where he stressed the pressing need to end energy poverty in Africa and proposed joint-investment models to de-risk infrastructure and unlock shared wealth.
“Africa’s energy future must be built on collaboration, innovation, and inclusion. NNPC Limited stands ready to co-create solutions that will deliver real impact,” the GCEO stated.
Representing NNPC further, Executive Vice President, Upstream Udy Ntia spoke at the Global Strategy Session “Beyond the Barrel: The Future of Upstream Strategy,” affirming the company’s eagerness to co-fund sector-wide breakthroughs while rapidly scaling Nigeria’s oil and gas output in step with national and regional energy goals.
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