Stories by Sam Otuonye

The Nigerian National Petroleum Company Limited has said that reforms in the oil and gas industry have increased Nigeria’s crude oil production by 600,000 barrels per day, from about 1.2 million barrels to 1.8 million barrels daily, as the country steps up efforts to attract international investment into the sector.

The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir 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 in the United Arab Emirates.

Ojulari said the production increase reflected the impact of the Petroleum Industry Act, improved investment conditions and stronger collaboration with industry partners, positioning Nigeria to compete more effectively for global energy capital.

The statement partly read, “The Nigerian National Petroleum Company Limited says reforms in Nigeria’s oil and gas sector have added 600,000 barrels per day, raising national crude oil production from about 1.2 million barrels per day to 1.8 million barrels per day and placing the country in a stronger position to attract international energy capital.”

The NNPC GCEO, who spoke during a session moderated by John Defterios, Chairman, MENA, APCO, said the company was targeting crude oil production of two million barrels per day by 2027, with emphasis on protecting existing production, maintaining infrastructure and accelerating new projects.

He described the current production level of 1.8 million barrels per day as an important milestone but stressed that sustaining the gains would depend on the successful execution of ongoing projects and the rehabilitation of critical infrastructure.

“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,” he stated.