The Nigerian National Petroleum Company Limited has reported a sharp rise in crude oil output, reaching 1.71 million barrels per day, the highest in five years—according to its one-year performance review under the leadership of Group Chief Executive Officer, Bayo Ojulari.
The update, shared on the GCEO’s official X account on Sunday, was described as a reflection of transparency and tangible progress across the company’s operations.
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Detailing its performance between April 2025 and April 2026, NNPC noted that its upstream arm, NNPC Exploration and Production Limited, also set a new record, hitting peak production of 365,000 barrels per day in December 2025.
The report stated: “Oil production rose to 1.71 million barrels per day, the highest in five years, while NEPL recorded an all-time peak of 365,000 barrels per day in December 2025.”
The company added that its operational framework incorporates robust provisions aimed at unlocking deepwater non-associated gas reserves, a segment long underdeveloped within Nigeria’s energy landscape.
It further disclosed progress in resolving the long-running dispute over the former OPL 245 (Zabazaba/Etan) asset, which has now been restructured into new Production Sharing Contracts covering PMLS 102 and 103, as well as PPLs 2011 and 2012.
Within the gas segment, NNPC highlighted major infrastructure achievements, including completion of the River Niger crossing of the Ajaokuta-Kaduna-Kano pipeline in July 2025, along with the welding of the full pipeline stretch.
The firm also confirmed the commissioning of the Assa North-Ohaji South gas processing facility and its integration with the Obiafu-Obrikom-Oben pipeline, a key component of the country’s domestic gas network.
Gas supply rose to 7.5 billion standard cubic feet per day in 2025, supported by several commercial agreements, including a Network Exit Agreement between NGIC and Dangote Fertiliser Limited, as well as supply arrangements involving NGML, Dangote Cement, and the Dangote Refinery.
NNPC said it rolled out a Gas Master Plan in January 2026 and secured additional supply deals, including an agreement with CNG Ibese, while continuing optimisation work on the Soku gas infrastructure.
On refining, the company disclosed the introduction of an Incorporated Joint Venture model designed to reposition its refineries as commercially viable and self-sustaining entities.
It also confirmed the consolidation of its 7.25 per cent equity stake in the Dangote Refinery, describing the move as vital for protecting national energy security.
The company reaffirmed its continued supply of crude to the refinery under the “crude-for-naira” initiative, aimed at easing foreign exchange pressures and stabilising local fuel availability.
“Sustained support for the Dangote Refinery through crude supply under the ‘crude-for-naira’ programme,” the report noted.
NNPC also expanded its global reach through strategic shipping partnerships with international firms such as Stena Bulk and Sonangol, while introducing a new crude grade, Cawthorne, and extending its Oleum lubricant brand into the West African market.
On project development, the firm secured presidential approval for incentives to facilitate a Final Investment Decision on the Bonga South West Aparo project under the OML 118 Production Sharing Contract.
Additionally, it signed a tripartite Memorandum of Understanding with China Gas Holding Limited and Peiyang Chemical Singapore PTE Ltd to accelerate gas commercialisation.
A key highlight of the report is the resumption of full monthly remittances to the Federation Account Allocation Committee since July 2025. NNPC also reinstated monthly performance reporting and held its inaugural earnings call in November 2025, moves aimed at boosting transparency and investor confidence.
“Transparency: Monthly performance reporting has resumed, and the company held its first earnings call in November 2025. FAAC remittances have also been consistent since July 2025,” it stated.
On workforce development, the company said it recruited 1,000 new employees, referred to as “The Tigers,” and introduced a revamped performance management system to enhance efficiency and accountability. It also launched the Women in NNPC initiative to promote gender inclusion and leadership development.
The company added that it has embarked on a major internal transformation under its “Fit4Future” initiative, aimed at repositioning NNPC as a globally competitive and profit-oriented energy firm.
Commenting on the report, Ojulari said the results reflect deliberate efforts to reposition the company as a transparent and performance-driven organisation.
“Over the past year, we have made steady progress in delivering on our mandate, with measurable gains across production, financial performance, infrastructure, and organisational culture,” he said.
“This is not just a record of achievements but a demonstration of accountability to Nigerians. We remain committed to building a sustainable and prosperous energy future for the country.”
NNPC Limited transitioned into a fully commercial entity under the Petroleum Industry Act, with a mandate to operate profitably while maintaining transparency and contributing to national revenue.
Despite past criticisms over oil theft, declining output, and delays in remittances, the latest report points to a turnaround, marked by rising production, renewed emphasis on gas as a transition fuel, and reforms in refinery operations.
The continued implementation of the “crude-for-naira” policy and stronger collaboration with private sector players such as the Dangote Group are seen as key to stabilising Nigeria’s downstream sector and reducing reliance on fuel imports.
Ojulari assumed office on April 2, 2025, following the dissolution of the previous NNPC board and the removal of his predecessor, Mele Kyari, as part of a broader restructuring effort aimed at improving efficiency, boosting output, and restoring investor confidence.
A seasoned petroleum engineer, Ojulari brings decades of industry experience, having previously served as Managing Director of Shell Nigeria Exploration and Production Company and later as Chief Operating Officer at Renaissance Africa Energy.
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