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By Adewale Sanyaolu
The Group Chief Executive Officer (GCEO) of NNPC Limited, Mr. Bashir Bayo Ojulari, has announced that the company’s crude oil export terminals have rebounded from near-total operational collapse to an average 98 per cent recovery.
The GCEO stated this at the opening of the 25th NOG Energy Week in Abuja on Tuesday.
He described the turnaround as one of the major achievements recorded under the company’s ongoing transformation.
Ojulari said NNPC recorded an average 98 per cent recovery across its five crude oil export terminals between April 2025 and May 2026, compared to operational lows of about one per cent at the Bonny Oil and Gas Terminal in June 2022.
The recovery, he said, reflects sustained efforts to restore production, strengthen operational efficiency and improve the reliability of Nigeria’s crude oil export infrastructure.
Ojulari also disclosed that Nigeria’s crude oil production has increased to 1.71 million barrels per day, the highest level in five years, while NNPC Exploration and Production Limited (NEPL) achieved a record production of 365,000 barrels per day.
He added that gas production rose to 7.5 billion standard cubic feet per day, following the successful completion of the River Niger crossing on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the commissioning of the ANOH Gas Processing Plant.
The NNPC boss further revealed that the company has signed landmark Gas Sale and Purchase Agreements (GSPAs) covering 1.29 billion standard cubic feet per day for long-term LNG feed gas and 750 million standard cubic feet per day for domestic industrial gas supply to DFL FZE and Dangote Refinery.
According to him, the agreements are expected to attract more than $20 billion in investments, with seven additional commercial transactions already in the pipeline. Ojulari also said NNPC maintained 100 per cent compliance with Joint Venture cash call obligations throughout 2025 and up to June 2026, while sustaining efforts to increase Nigeria’s crude oil production to two million barrels per day.
He noted that the company resumed full monthly remittances to the Federation Account in July 2025, reinstated monthly business performance reporting and hosted its first earnings call in November 2025 as part of measures to enhance transparency and investor confidence.
Calling for greater collaboration across the energy industry, Ojulari urged governments, investors, regulators and operators to forge stronger partnerships to unlock Africa’s vast energy resources and drive industrialisation.
He stressed that while Africa possesses about 17 per cent of global natural gas reserves, fragmented collaboration continues to limit the continent’s ability to attract investment and maximise the value of its energy resources.
“The future of African energy will not be determined solely by the resources beneath our soil, but by the quality of the partnerships we forge above it. The opportunity before us is extraordinary. The responsibility is ours. And the time to act is now,” he said.
