New Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Bashir Bayo Ojulari, has pledged to attract sectoral investments worth $30 billion and $60 billion by 2027 and 2030 respectively.
Ojulari said the company, under his stewardship, would raise crude oil production to over two million barrels per day, sustained through 2027 and attain three million by 2030.
The new GCEO disclosed this at a town hall meeting with the NNPC Ltd. staff in Abuja, a few days after assuming duties as the new GCEO, with a determination to pursue the company’s bold ambitions and build an NNPC that will be the pride of all Nigerians.
Ojulari, in a statement in Abuja on Friday, April 18, 2025, by Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., said the company would also expand refining output to 200kbpd by 2027 and 500kbpd by 2030.
The GCEO, while unveiling his agenda, said the company would grow gas production to 10 billion cubic feet (bcf) per day by 2027, and 12bcf by 2030, and deepen energy access and affordability for all Nigerians.
“We stand at the gateway of a new era—one that demands courage, professionalism, and a relentless drive for excellence.
“The task before us is great, yet the opportunity to redefine Nigeria’s energy future is even greater. Now is the time to turn our transformation promise into performance.
“To achieve these targets, the company will be focusing on reconfiguring its business structure for agility and value creation; conducting independent value assessments to inform data-driven decisions and enforcing a robust performance management framework.
“The company will build transparent, value-aligned partnerships with all stakeholders, and most critically, taking control of its narrative,” Ojulari said.
While explaining the criticality of pursuing the company’s bold ambitions, the Group CEO said the targets are not just metrics, but indicators of hope, jobs, industrial growth, and energy security for millions of Nigerians.
He charged the staff to be proud of NNPC Ltd’s recent transformation, stressing that the next journey to becoming a fully-fledged limited liability company would require the collective drive towards making NNPC more transparent, profitable and accountable.
Ojulari pledged to give all employees the space to be able to outperform competitors.
“We will provide the best combination where the experienced and the young will both thrive towards achieving our set targets,” he assured.
According to him, the company’s management will deepen collaboration with the company’s in-house and national unions to build a stronger, trust-based relationship that reflects shared purpose and mutual respect.
He also called on all members of staff to lead with integrity, act with urgency, while bringing their very best to the table.
“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,” Ojulari said.
By Emmanuella Anokam