NNPCL Reaffirms 2 Million Barrels Per Day Oil Production Target by 2027
The Nigerian National Petroleum Company Limited (NNPCL) has once again reaffirmed its commitment to achieving a 2 million barrels per day (bpd) crude oil production target by 2027. This reiteration comes as part of the company’s long-term plan to boost Nigeria’s oil output, attract investment, and strengthen the country’s energy security.
Speaking at an industry event, NNPCL executives emphasized that the company remains focused on overcoming the challenges affecting Nigeria’s crude oil production, including pipeline vandalism, oil theft, and declining investment in the upstream sector. According to the state-owned oil firm, achieving the 2 million bpd milestone is not only feasible but critical to Nigeria’s economic stability and growth.
The company revealed that it is implementing a series of strategic reforms and infrastructure projects to expand output capacity. These include ongoing rehabilitation of refineries, development of deepwater assets, and partnerships with international and indigenous oil companies to enhance exploration and production efficiency.
NNPCL also highlighted the government’s renewed efforts to improve the investment climate through the Petroleum Industry Act (PIA), which is expected to attract new funding into Nigeria’s energy sector. With plans to secure up to $60 billion in fresh investments by 2030, the company believes the 2 million bpd goal is well within reach.
Experts note that Nigeria currently produces around 1.5–1.7 million barrels per day, including condensates. Hitting the 2 million bpd target will place the country among the top oil producers in Africa and increase its contribution to global energy supply.
The NNPCL’s strategy also aligns with Nigeria’s goal of balancing energy expansion with sustainability, as the company continues to invest in gas development and cleaner energy projects to support the global transition to lower-carbon fuels.
As the 2027 target approaches, all eyes remain on the NNPCL to see how its ambitious plans will translate into measurable growth, increased revenue, and strengthened energy security for Africa’s largest oil-producing nation.
