NNPC’s Group Chief Executive Officer, Bashir Bayo Ojulari announce Speaking at the CERAWeek conference in Houston today, March 24, 2026, Ojulari confirmed that Nigeria is positioned to boost its crude oil production by approximately 100,000 barrels per day (bpd) in the coming months.
​This move is part of a broader push to stabilize the national economy and capitalize on shifting global demand.
The additional 100,000 bpd is intended to bring Nigeria closer to its 1.8 million bpd average target for 2026. This follows a volatile start to the year, where production dipped to 1.31 million bpd in February.
Ojulari noted that while Nigeria isn’t a “swing producer” on the scale of Saudi Arabia, this increment will help mitigate global supply shortfalls caused by ongoing geopolitical tensions.
The boost is credited to a “full portfolio review” completed in 2025. NNPC is now focusing on rigorous project execution, ensuring new oil wells and infrastructure projects are delivered on budget and without the historical delays that have plagued the sector.
This production hike supports Ojulari’s larger agenda to attract $30 billion in investment by 2030 and move toward a long-term goal of 3 million bpd.
Since his appointment by President Bola Tinubu in April 2025, replacing Mele Kyari with Bashir Bayo Ojulari has pivoted the NNPC toward a more “private-sector” efficiency model. His background as a former Managing Director at Shell (SNEPCo) has been central to his strategy of selling off non-performing assets and forming leaner partnerships with indigenous firms.
