OJULARI, NNPC LTD CEO SETS AMBITIOUS TARGETS: $60BN INVESTMENTS, 3M bpd OIL OUTPUT
The new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Bayo Ojulari, has outlined his agenda for the company, aiming to attract $60 billion in sectoral investments and increase crude oil output to 3 million barrels per day.
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Ojulari,who conveyed this in a statement by Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd, said the NNPC Ltd under his 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.
In a townhall meeting held at the NNPC Towers in Abuja, on Thursday, Ojulari said he also aims to 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.
In order to achieve these targets, he said the company will be focusing on reconfiguring its business structure for agility and value creation; conducting independent value assessments to inform data-driven decisions; enforcing a robust performance management framework; building transparent, value-aligned partnerships with all stakeholders and most critically, taking control of its narrative.
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.
Describing NNPC Limited as a renewed, forward-facing, and future-ready organisation that is proudly leading Nigeria’s energy transformation, Ojulari said “it’s time we tell our story—one of innovation, reform, and national pride.”
Ojulari said it was a huge honour and responsibility to lead the NNPC Ltd, describing the Company as an entity that means a lot to Nigeria and its future.
“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,” Ojulari told thousands of the company’s staff.
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 will require the collective drive towards making NNPC more transparent, profitable and accountable.
He 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.
He said his 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 staff to lead with integrity, act with urgency, while bringing their very best to the table.
“We recognize 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 added.
