NNPCL: Ojulari Sets $30bn Investment Target By 2027

The group chief executive officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Bashir Bayo Ojulari, has set an ambitious target to attract sectoral investments worth $30billion by 2027 and $60 billion by 2030; raise crude oil production to over two million barrels per day, sustained through 2027 and three million by 2030.

Ojulari, while unveiling his agenda during a townhall meeting with the staff of NNPCL in Abuja on Thursday, also unveiled plans 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.

To achieve the targets, he explained that 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 oil company’s bold ambitions, the Group CEO said the targets wre 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 leading Nigeria’s energy transformation, Ojulari said: “it’s time we tell our story—one of innovation, reform, and national pride.”

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“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 said in a statement signed by Olufemi Soneye, the chief Corporate Communications Officer of NNPC Ltd.

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.

“We will provide the best combination where the experienced and the young will both thrive towards achieving our set targets.

“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.