NNPC Targets $30bn Investments in Oil Sector by 2027
The Nigerian National Petroleum Company Limited (NNPCL) has unveiled its agenda for attracting $30 billion investments by 2027 and $60 billion by 2030.
The Group Chief Executive Officer (GCEO) Bayo Ojulari disclosed this to members of staff during a townhall meeting held at the NNPC Towers in Abuja, yesterday.
In a press statement signed by the Chief Corporate Communications Officer, Olufemi Soneye and made available to The Nation, yesterday, Ojulari 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 two million barrels per day, sustained through 2027 and attain three 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.
Ojulari said 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; enforcing a robust performance management framework; building transparent, value-aligned partnerships with all stakeholders and most critically, taking control of its narrative.
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.
Describing NNPC Ltd 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.”
He charged 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.
The Group CEO pledged to give all employees the space to be able to outperform ompetitors. “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 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 concluded.
He vowed to pursue the company’s bold ambitions and build an NNPC that will be the pride of 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,” Ojulari submitted.
