NNPC Eyes 100,000 bpd Boost in Nigeria’s Crude Oil Production Amid Global Supply Tensions

Nigeria could soon see a significant boost in crude oil production, with the Nigerian National Petroleum Company Limited (NNPC Ltd) projecting an increase of about 100,000 barrels per day (bpd) in the coming months. The announcement was made by NNPC’s Group Chief Executive Officer, Bashir Bayo Ojulari, during an interview with Reuters at the CERAWeek by S&P Global conference in Houston. The planned rise is part of Nigeria’s efforts to strengthen domestic production and support global oil supply amid geopolitical tensions.

Ojulari emphasized that while Nigeria may not match the scale of top oil producers like Saudi Arabia, the country is steadily building capacity to contribute to global markets. “We are building that capacity. We are not like Saudi, but we can contribute,” he stated. Nigeria’s crude production averaged between 1.6 million and 1.7 million bpd last year, with the country targeting 1.8 million bpd in 2026 to help offset potential supply disruptions linked to international conflicts involving the U.S., Israel, and Iran.

NNPC has been implementing strategic reforms aimed at improving efficiency and boosting production. A full portfolio review completed in 2025 has enabled the company to focus on better project execution, timely delivery, and ensuring projects stay on budget. These initiatives form part of a broader strategy to strengthen Nigeria’s oil sector, enhance operational efficiency, and support incremental production growth.

Despite these reforms, Nigeria’s oil sector continues to face production challenges. Data from the Organisation of Petroleum Exporting Countries (OPEC) showed crude output fell to 1.31 million bpd in February 2026, while Nairametrics reported a rise to 1.459 million bpd in January 2026. Government revenue, closely tied to production volumes and global oil prices, could benefit from sustained output growth, helping to bolster external reserves and ease fiscal pressures.

Looking ahead, NNPC plans to develop new oil fields starting in 2026 and is targeting at least $30 billion in investment by 2030. The company has also launched a bid process to sell stakes in some of its assets, including partnerships with Shell, Chevron, Eni, and TotalEnergies, signaling a strong push to optimize its portfolio and strengthen Nigeria’s oil production footprint on the global stage.

source: nairametrics