The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, has announced that Nigeria is on track to achieve a daily crude oil production target of 1.9 million barrels by the end of 2025.
Ojulari made this projection during the inauguration of the NNPC Ltd. Board at the Presidential Villa in Abuja on Thursday. His statement was included in a press release issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on May 22.
According to Ojulari, NNPC Ltd. has already engaged with key industry stakeholders to review operational strategies and strengthen business collaborations, which has contributed to a steady rise in output.
“In just two months, we’ve increased production from 1.5 million to 1.7 million barrels per day, and we are working diligently to reach 1.9 million barrels by year-end,” he stated.
Refinery Overhaul and Business Reforms
Ojulari emphasized ongoing efforts to optimize operations, including the turnaround maintenance of Nigeria’s refineries.
“We are committed to only making promises we can keep — and delivering on every one of them,” he assured.
He also praised President Tinubu’s economic reforms, saying they have created a favorable environment for foreign direct investment. “We’ve begun holding bi-weekly strategy sessions with stakeholders and are aligned on the direction set by your mandate,” he said.
Ojulari reiterated that NNPC Ltd. is committed to running as a fully commercial enterprise.
Presidential Endorsement
President Tinubu, in his remarks, expressed full confidence in the new board and its leadership. He explained that the appointments were made with great care to ensure high-caliber leadership at the helm of Nigeria’s flagship energy company.
“You represent the finest in the industry,” the President said. “Your character, experience, and resourcefulness are key to helping Nigeria succeed. You have a mission to fulfill, and I trust you will deliver.”
He noted that the ongoing economic reforms have begun yielding positive results both locally and internationally and called on the board to deepen those gains.
Looking Ahead
President Tinubu also stressed the importance of domestic solutions amid global economic volatility, urging the board to leverage Nigeria’s resources and talent to strengthen the economy.
Ojulari, who assumed office in April, has previously pledged to attract $60 billion in investments into Nigeria’s oil and gas sector by 2030 — including a near-term target of $30 billion by 2027. This ambitious vision was unveiled during a town hall meeting with NNPC Ltd. staff in Abuja shortly after his appointment.
