Emmanuel Addeh in Abuja

The Nigerian National Petroleum Company Limited (NNPC) yesterday reiterated its commitment to a 2 million Barrels Per Day (bpd) oil production by 2027, calling for bold global partnerships and investments to end the phenomenon of energy poverty across Africa.

Group Chief Executive Officer of NNPC, Bayo Ojulari, made the comment at the “Energy Talk” session of the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) taking place in Abu Dhabi, United Arab Emirates (UAE).

Fielding questions from the host and Pulitzer Prize-winning energy author, Daniel Yergin, the GCEO emphasised Nigeria’s pivotal role in Africa’s energy milieu, adding that NNPC was the linchpin to the drive for energy sufficiency in the African continent.

He explained that NNPC has raised Nigeria’s oil output to 1.7 million barrels per day, with targets of 2 million bpd by 2027 and 3 million bpd in the long term, a growth that is driven by redefined relationships with Independent Oil Companies (IOCs) and independents, removing legacy blockers and aligning on shared value.

He reaffirmed the company’s commitment to working with the Organisation of Petroleum Exporting Countries (OPEC) peers, African National Oil Companies (NOCs), and financial institutions to attract $30 – $60 billion in fresh investment by 2030.

Ojulari said new government incentives beyond the Petroleum Industry Act (PIA) are already attracting capital for deep-water exploration, dry gas development, and cost reduction.

He spotlighted some of the nation’s high-profile energy initiatives such as upstream revival through accelerated new fields development, gas infrastructure expansion, including the near-completion of the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and the Obiafu-Obrikom-Oben (OB3), and the rollout of cleaner energy, including the Presidential CNG Initiative and expansion of autogas corridors.

Ojulari highlighted Nigeria’s vast oil, gas, and renewable energy potential, stressing that under President Bola Tinubu’s Renewed Hope Agenda, there are concerted efforts to transform Nigeria from an extractive economy to a diversified, investment-driven energy hub.

“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.

Echoing the opening remarks of Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and ADNOC CEO, who called for “pragmatic, not performative” energy policies and emphasised the need for $4 trillion in annual global energy investment, Ojulari urged global stakeholders to co-invest in Africa’s energy future.

“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 said its presence at ADIPEC 2025 underscores its evolution into a commercially-driven, globally-engaged energy company, one that is not only powering Nigeria, but helping shape the future of energy across the continent.

ADIPEC is one of the world’s largest energy exhibitions and conferences hosted by the Abu Dhabi National Oil Company (ADNOC). This year’s edition is themed: “Energy. Intelligence. Impact”, is the 41st in the series.   

Days earlier, Ojulari led a high-level delegation to the NNPC exhibition booth at the ongoing ADIPEC, reinforcing the company’s commitment to global partnerships, energy equity, and sustainable investment.

Welcomed by the Executive Vice President, Business Services, Sophia Mbakwe, and other senior executives, the GCEO’s visit underscored NNPC’s strategic presence at one of the world’s most influential energy gatherings. The Chairman of the Board of NNPC and fellow board members were also in attendance, demonstrating unified leadership and support for the company’s international engagements.

Ojulari participated in a closed-door session of the Global Oil Club, a prestigious forum of leading energy companies and institutions. In his remarks, he emphasised the urgent need to end energy poverty across Africa and called for co-investment strategies to de-risk energy infrastructure and unlock shared prosperity.

 “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.

Also representing NNPC was Executive Vice President, Upstream, Mr. Udy Ntia, who featured in the Global Strategy Session titled Beyond the Barrel: The Future of Upstream Strategy. In his submission, Ntia affirmed NNPC’s readiness to co-invest in industry-wide solutions while accelerating Nigeria’s oil and gas output in line with national and regional energy mandates.

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