NNPC GCEO targets $60bn investments in oil, gas sector by 2030

Bayo Ojulari, group chief executive officer, Nigerian National Petroleum Company (NNPC) Limited, says his administration plans to attract sectoral investments worth $60 billion by 2030.

Ojulari spoke during a town hall meeting with the company’s staff held at the NNPC Towers in Abuja on Thursday.

Unveiling his agenda, Ojulari said his stewardship targets sectoral investments “worth $30 billion by 2027 and $60 billion by 2030”.

He also said he plans to raise crude oil production to over two million barrels per day (bpd), sustained to 2027 and three million bpd by 2030, targeting an uptick in refining output to 200 thousand barrels per day (kbpd) by 2027, and 500 kbpd by 2030.

According to the NNPC boss, gas production is expected to grow to 10 billion cubic feet (bcf) per day by 2027 and 12 bcf by 2030, deepening energy access and affordability for all Nigerians.

“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,” he said.

Explaining the criticality of pursuing the company’s ambitions, Ojulari said the targets are not just metrics, but representations of hope, jobs, industrial growth, and energy security for Nigerians.

Ojulari said it was a huge honour and responsibility to lead the NNPC, describing the company as an entity that means a lot to Nigeria and its future.

“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.

Describing NNPC 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”.

OJULARI TO NNPC STAFF: BE PROUD OF RECENT TRANSFORMATION

Speaking further, he charged staff to be proud of NNPC’s recent transformation, saying the next journey to becoming a fully-fledged limited liability company will require the collective drive towards making the company 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,” he said.

Furthermore, Ojulari emphasised his plans to strengthen collaboration with the company’s unions, and encouraging NNPC’s staff to lead with integrity and urgency.

The GCEO said NNPC is committed to creating a workplace where employees are valued, motivated, and inspired to thrive, adding that “together, we will build a high-performing, globally competitive NNPC Ltd that is proudly Nigerian and proudly world-class”.