Key points
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NNPCL sets a 2 million barrels per day target by 2027.
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Security reforms and new infrastructure to boost crude output.
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Global partners renew interest in Nigeria’s oil resurgence.
The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its goal of increasing crude oil production to two million barrels per day by 2027. This will help Nigeria get back to being the top oil producer in Africa.
Mele Kyari, the Group Chief Executive Officer of NNPCL, said this during the ongoing Africa Energy Week in Cape Town, South Africa. He said the goal is in line with the company’s changes to how it does business, investments in technology, and partnerships that are meant to stabilise Nigeria’s oil sector, which has been hurt by years of theft, underinvestment, and vandalism of pipelines.
NNPCL is focused on bringing oil production back to life
Kyari said that the NNPCL is focussing on getting production back on track by fixing major problems in the upstream sector. He said that better surveillance, modern monitoring systems, and working with security agencies are already helping to stop oil theft and make output more consistent.
He says that Nigeria only makes about 1.4 million barrels of oil a day, which is less than its OPEC quota of 1.8 million barrels. “Our goal for 2027 is realistic.” Kyari said, “It shows how much more efficient our operations are and how much more we trust the system.”
Foreign investments affect the outlook for production
A pipeline of new investments, especially from TotalEnergies, Chevron, and ExxonMobil, who have recently become interested in Nigerian deepwater projects again, will help reach the goal of 2 million barrels per day by 2027. The NNPCL has also started talks with new energy companies in Asia and the Middle East to bring in more money for exploration and production projects.
Dr. Bismarck Rewane, an energy economist, called the projection “ambitious but attainable.” He pointed to recent changes to policy under President Bola Tinubu’s administration that were meant to stabilise the fiscal regime and draw in global investors.
To keep growth going, we need infrastructure, reforms, and stability
Kyari said that the company is putting a lot of money into midstream and downstream infrastructure, in addition to exploration. This includes finishing the Dangote Refinery crude supply agreement and fixing up the Port Harcourt and Warri refineries. He said that these steps will help keep the value of crude oil and lower the need for fuel imports.
The NNPCL boss also said that developing local content and transferring technology are still important parts of the company’s 2027 roadmap. Kyari said, “This isn’t just about hitting numbers; it’s about building an industry that will last and help Nigeria’s long-term energy security.”
Prof. Wumi Iledare and other experts in the field think that Nigeria could reach the 2 million barrels per day mark sooner than expected if it keeps its fiscal and regulatory stability. But they say that insecurity in the Niger Delta and the unstable global oil market could make things harder.
As NNPCL makes changes, the company’s goal for production in 2027 is becoming both an economic benchmark and a test of Nigeria’s ability to keep its promise of stable energy.
