The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced an ambitious plan to ramp up crude oil production to 1.9 million barrels per day (bpd) by the end of 2025. This target was revealed by the Group Chief Executive Officer, Bashir Bayo Ojulari, during the inauguration of the NNPC Board at the State House in Abuja on May 22, 2025.
Ojulari reported that production had already climbed from 1.5 million to 1.7 million bpd in the last two months, signaling steady progress toward the goal. “We will only promise what we can deliver and we will deliver on those promises,” Ojulari affirmed, highlighting NNPC’s renewed commitment to reliability and performance.
This production boost forms a central pillar of NNPC’s broader strategy to revitalize Nigeria’s oil and gas sector. Ojulari also set a target to attract $60 billion in investments by 2030, with an intermediate goal of securing $30 billion by 2027. The initiative aims to modernize infrastructure, attract private capital, and bolster energy output in Africa’s largest oil-producing nation.
President Bola Tinubu, who presided over the board’s inauguration, reiterated his administration’s support for NNPC’s transformation and urged the board to be results-driven. Meanwhile, the federal government has set an even higher national target of 2.5 million bpd by the end of 2025, exceeding the earlier benchmark of 2 million bpd.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, expressed confidence in achieving these goals, citing intensified efforts to tackle long-standing challenges like pipeline vandalism and oil theft in the Niger Delta.
To support production expansion, NNPC is focusing on key reforms such as the overhaul of its refineries and enhanced operational efficiency. Bi-weekly stakeholder engagements are being conducted to streamline industry collaboration and address bottlenecks.
In alignment with NNPC’s push, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has also set a 2025 production target of 2.1 million bpd, emphasizing the coordinated national effort to restore Nigeria’s crude output to pre-decline levels.
These production targets come as the country grapples with reduced oil revenues due to falling global prices. With crude trading at around $60 per barrel below the $75 benchmark in Nigeria’s 2025 budget the stakes are high for NNPC and its partners to deliver on their commitments and stabilize the nation’s economic outlook.
