From Adewale Sanyaolu
The Nigerian National Petroleum Company (NNPC) Limited has announced ambitious goals to attract $60 billion in sectoral investment and achieve a daily crude oil production of two million barrels per day (bpd).
Group Chief Executive Officer Bayo Ojulari shared these targets at a townhall meeting held at NNPC Towers in Abuja on Thursday.
Ojulari provided a detailed breakdown of the company’s agenda. “NNPC Ltd under my stewardship aims to attract sectoral investments worth $30 billion by 2027 and $60 billion by 2030; raise crude oil production to over 2 million barrels per day, sustained through 2027 and attain 3 million by 2030; expand refining output to 200kbpd by 2027, and 500kbpd by 2030; grow gas production to 10bcf per day by 2027, and 12bcf by 2030 and deepen energy access and affordability for all Nigerians,” he said.
To achieve these goals, Ojulari outlined key strategies. First, NNPC will reconfigure its business structure for agility and value creation. Also, it will conduct independent value assessments to guide data-driven decisions. Plus, a robust performance management framework will be enforced. Additionally, the company will build transparent, value-aligned partnerships with stakeholders and take control of its narrative.
Ojulari emphasised the importance of these targets. “The targets are not just metrics, but indicators of hope, jobs, industrial growth, and energy security for millions of Nigerians,” he said.
He described NNPC Ltd as “a renewed, forward-facing, and future-ready organisation that is proudly leading Nigeria’s energy transformation.” He urged staff to embrace the company’s transformation, stating, “It’s time we tell our story—one of innovation, reform, and national pride.”
The Group CEO encouraged employees to take pride in NNPC Ltd’s journey towards becoming a fully-fledged limited liability company. “The next journey… will require the collective drive towards making NNPC more transparent, profitable and accountable,” he said. He pledged to create a workplace where all employees can outperform competitors. “We will provide the best combination where the experienced and the young will both thrive towards achieving our set targets,” he assured.
Ojulari committed to deepening collaboration with in-house and national unions to foster trust and mutual respect. He called on staff to “lead with integrity, act with urgency, while bringing their very best to the table.”
Regarding the value of employees, he stated, “We recognise that our greatest asset is our people. Our success will be powered by empowered employees. As such, we are fully committed to creating a workplace where everyone is valued, motivated, and inspired to thrive. Together, we will build a high-performing, globally competitive NNPC Ltd that is proudly Nigerian and proudly world-class.”