Mkpoikana Udoma
Port Harcourt — The Nigerian National Petroleum Company Limited, NNPCL, has recorded its highest crude oil and gas production levels in nearly five years, marking a major milestone in the company’s drive to restore Nigeria’s production capacity and attract fresh investment into the energy sector.
Group Chief Executive Officer of NNPCL, Mr. Bashir Bayo Ojulari, disclosed this after meeting with President Bola Ahmed Tinubu at the Presidential Villa, Abuja, where he briefed the President on the company’s production performance and investment drive.
Ojulari announced that Nigeria’s crude oil production climbed to 1.68 million barrels per day, bpd, last month, a level not seen in approximately five years, as part of ongoing efforts to boost national output.
“Last month, we achieved a production record of 1.68 million barrels, marking a notable milestone not seen in approximately five years,” Ojulari said.
He also revealed that the company achieved a new all-time high in gas production, hitting around 7 billion cubic feet, BCF, per day, a development he described as a key indicator of NNPCL’s operational momentum and improved efficiency.
“Additionally, we recorded our highest gas production to date, reaching around 7 BCF per day,” he stated.
According to Ojulari, the performance underscores the company’s commitment to the national target of raising crude production to a minimum of 2 million barrels per day by 2027, with an ambitious projection to reach 3 million barrels per day by 2030.
“In line with our mandate to increase production to a minimum of 2 million barrels per day by 2027 and aspiring to reach 3 million barrels per day by 2030, I am pleased to report that we are making significant strides,” he affirmed.
Ojulari expressed optimism that the positive trend would be sustained as NNPCL intensifies efforts to attract new investments, deepen upstream operations, and optimize gas development across value chains.
“We remain committed to maintaining this positive trajectory and are optimistic about our continued progress,” he added.
The NNPCL boss’ meeting with President Tinubu, coming at a time of renewed global investor interest in Nigeria’s oil and gas industry, signals the government’s confidence in ongoing reforms aimed at boosting production, strengthening energy security, and positioning Nigeria as a leading hydrocarbon investment destination in Africa.
