Ojulari Targets 1.9 Million Barrels Per Day Output by Year End at NNPCL

Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, has announced an ambitious target to increase crude oil production to 1.9 million barrels per day by the end of the year.

This was disclosed during the inauguration of the NNPC Limited Board at the State House in Abuja on Thursday, May 22, 2025.

According to a statement released by the Special Adviser to the President (Information & Strategy), Bayo Onanuga, Ojulari expressed confidence that the company is on track to meet the target, citing a significant increase in production over the past two months.

“Production had risen to 1.7 million barrels in two months from 1.5 million barrels, with the target of reaching 1.9 million barrels by year-end,” he said.

The NNPCL CEO attributed the progress to the company’s efforts to optimize various aspects of its operations, including the turnaround maintenance of the refineries.

He assured the government that NNPC Ltd would operate as a business, driven by a commitment to deliver on its promises.

“We will promise what we can deliver, and we will deliver on our promise,” he added.

Ojulari also praised President Bola Tinubu’s economic reform agenda, which he said has sent the right signals to attract foreign direct investments.

“We have had several meetings, and we have set a direction with the mandate that you have given us. We have commenced the journey with bi-weekly meetings with stakeholders,” he said.

The Minister of State for Petroleum, Heineken Lokpobiri, expressed confidence in the ability of the NNPC team to deliver on its targets.

“The NNPCL team is capable of delivering,” he said.

In his remarks, President Tinubu urged the new NNPC board to consolidate the gains of the ongoing economic reforms, which have attracted commendations for the resilience and competitiveness of the Nigerian economy.

“When I started searching, it took a while to come up with the kind of character that you represent. You represent the best in the industry, and I have set goals for you,” he said.

The President emphasized the importance of the board’s role in driving the country’s economic growth, particularly in the face of global economic volatility.

“Nigeria has come of age. It is now more competitive and turning the corner, and with your highly respected team, I can relax and attend to other issues. Thank you for accepting the opportunity to serve your country and our dear nation,” he stated.

The inauguration of the NNPC Limited Board marks a significant milestone in the company’s transformation into a more efficient and effective entity, driven by a commitment to transparency, accountability, and commercial viability.

With the new board in place, the company is poised to play a critical role in driving the country’s economic growth and development.