NewStats: 3,261,632 , 8,174,567 topics. Date: Thursday, 29 May 2025 at 08:42 PM 3e3m5t

Ojulari unveils NNPC’s $60bn investment drive, eyes 3mbpd crude production by 2030.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Bashir Ojulari, has pledged to attract a staggering $60 billion in investments into Nigeria’s oil and gas sector by 2030, with a near-term milestone of $30 billion by 2027.

This ambitious target forms part of a sweeping transformation agenda aimed at scaling up crude oil production and enhancing the energy landscape of Africa’s largest economy.

The News Agency of Nigeria (NAN) reports that Ojulari made this commitment during a town hall meeting with NNPC Ltd. staff in Abuja, shortly after assuming office.

His address, which sets a new tone for leadership in the company, demonstrates an urgent need to drive performance, foster innovation, and deliver tangible results.

“We stand at the gateway of a new era—one that demands courage, professionalism, and a relentless drive for excellence,” Ojulari declared. “Now is the time to turn our transformation promise into performance.”

Crude Production, Refining, and Gas Expansion Targets

Ojulari disclosed that NNPC Ltd., under his stewardship, is targeting a crude oil production level of over two million barrels per day (bpd) sustained through 2027, with a vision to ramp up production to three million bpd by 2030.

In refining, the new GCEO outlined plans to expand Nigeria’s domestic refining capacity to 200,000 bpd by 2027, scaling up to 500,000 bpd by 2030. This is seen as a critical step toward achieving energy self-sufficiency and reducing reliance on imported petroleum products.

On the gas front, Ojulari revealed that gas production is projected to grow to 10 billion cubic feet (bcf) per day by 2027, reaching 12 bcf per day by 2030. This aligns with Nigeria’s decade of gas agenda and its broader transition towards cleaner and more sustainable energy sources.

Rebuilding NNPC for Performance and ability

The GCEO emphasised a radical restructuring of the company’s business architecture to improve agility, enhance value creation, and embrace performance management.

“To achieve these targets, we will reconfigure our business structure, conduct independent value assessments for data-driven decision-making, and enforce a robust performance management framework,” Ojulari said.

A key aspect of the transformation agenda is building transparent and value-aligned partnerships with both domestic and international stakeholders, and reclaiming control of NNPC Ltd.’s narrative as a dynamic and forward-looking energy company.

He further highlighted the strategic importance of the targets, describing them as “indicators of hope, jobs, industrial growth, and energy security for millions of Nigerians.”

Empowering People, Driving Inclusion

Ojulari pledged a strong commitment to employee development and empowerment, vowing to build a high-performing workforce that thrives on excellence and collaboration.

“Our success will be powered by empowered employees. We will provide the best environment where both experienced professionals and young talents can thrive,” he assured.

He called on all staff to lead with integrity, act with urgency, and commit fully to the company’s new direction. The GCEO also reaffirmed his commitment to deepening collaboration with staff unions, fostering a culture of mutual trust and shared purpose.

What you should know

• On April 2, 2025, President Bola Tinubu appointed Bashir Ojulari as the new Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited.

• The appointment came as part of a sweeping board overhaul that led to the removal of NNPC’s chairman, Chief Pius Akinyelure, former GCEO Mele Kyari, and several other board appointed in November 2023.

• Before his appointment, Ojulari had a distinguished career at Shell and later transitioned to the private sector, where he continued to shape Nigeria’s energy landscape.

Source: https://nairametrics.com/2025/04/18/ojulari-unveils-nnpcs-60bn-investment-drive-eyes-3mbpd-crude-production-by-2030/

FTC for the first time in 2025
I pray for mercy from God 🙏

Ojulari ore o denu🤔 carry on with your good deeds.

Nice one

Working refineries?

Backward thinking people. Better countries are eyeing massive reduction in emissions of free radicals by 2035 by massively wiping out petrol-enabled vehicles from their soil. Who com do Nigeria like this? I still can't believe Nigeria could be like this. All the indomie generations ing these leaders should pick a book of history and read about Nigeria of the past, especially from 70s to the early 90s. Or they have the opportunity to see how our politicians children are balling in with celebs. They'd stone the crop of leaders we have today instead of worshipping them.

Those traveling out in that era did so for 2 major reasons...vacation and business trips. Only a few would go to the embassy for schooling abroad cos we were OK. Nigeria was being eyed by the entire world. As at 2004/2006, Canadian embassy was always dry at anifowoshe, VI where they used to process TRV while the Immigrant visa was being handled by their Accra office. Only a few would apply. Go to vfs manor house today, it's like an annual conference. Nigeria is messed up.

Unfortunately, this generation that is badly hit by bad governance are the ones fighting for them. You can't drive from lagos-ibadan expressway in the night as in the past, when day travels aren't even safe anymore. With good leaders in place, all these nonsense won't happen. Lives don't matter to them. We used to have highway patrol team in prado jeeps back then. Nothing like that again and all these happened in the era of the military

2027 no far na

Benefits of subsidy removal

Which might have come earlier in 2012 or even 1993, or even 1988.


Modified

NO, I am not praising emilokan. he opposed subsidy removal in 2012. He had to remove subsides in 2023, because there quite frankly wasn't enough money to pay for them (and no, diverting yacht and cutting government money won't have paid for the whole thing. Maybe a few months, then that wouild be it).

The thing about subsidy removal is simple. Subsides on refined products prevent profits being made on refined products. Plus government in Nigeria oftentimes has difficulty paying for subsides over the decades because the monies for subsides come from the same crude oil revenue...not from taxes on the populace as seen normally...and oil money cannot fund subsides adequately.

Now that subsidy has gone, there is a chance profits can be made , especially since no more price controls. So, NNPC is launching investment drive.

Of course, now we have the issue of falling oil prices, so investment may be hurt by that, regardless.

All Achievements are being postponed to the future.. 🤣

One Minister told us years ago that Nigeria will start manufacturing airplanes by 2023!!

Today Ordinary "Nigerian Air" is no where to be found, not to talk of Air craft Manufacturing.

Nig Govt is arguably The Most Corrupt Government on Earth

Ok

Always planning to, this one Now they are planning for 2030 again, they have not fulfilled the ones they promised since 2015

In refining, the new GCEO outlined plans to expand Nigeria’s domestic refining capacity to 200,000 bpd by 2027, scaling up to 500,000 bpd by 2030. This is seen as a critical step toward achieving energy self-sufficiency and reducing reliance on imported petroleum products.

baralatie:
In refining, the new GCEO outlined plans to expand Nigeria’s domestic refining capacity to 200,000 bpd by 2027, scaling up to 500,000 bpd by 2030. This is seen as a critical step toward achieving energy self-sufficiency and reducing reliance on imported petroleum products.

This statement needs better clarification because it has some mis leading figures

Eriokanmi:
Backward thinking people

It's not backwards. Oil and gas are still great avenues for generating money around the world. The thing is that it should be reinvested in critical industries like healthcare, power, education, technology and manufacturing. Once an economy is diversified, you are good to go!

Eriokanmi:
Backward thinking people. Better countries are eyeing massive reduction in emissions of free radicals by 2035 by massively wiping out petrol-enabled vehicles from their soil. Who com do Nigeria like this? I still can't believe Nigeria could be like this. All the indomie generations ing these leaders should pick a book of history and read about Nigeria of the past, especially from 70s to the early 90s. Or they have the opportunity to see how their children are balling in with celebs. They'd stone the crop of leaders we have today instead of worshipping them.

Those traveling out in that era did so for 2 reasons...vacation and business trips. Only a few would go to the embassy for schooling abroad cos we were OK. Nigeria was being eyed by the entire world. As at 2004/2006, Canadian embassy was always dry at anifowoshe, VI where they used to process TRV while the Immigrant visa was being handled by their Accra office. Only a few would apply. Go to vfs manor house today, it's like an annual conference. Nigeria is messed up.

Unfortunately, this generation that is badly hit by bad governance are the ones fighting for them. Yiu can't drive from lagos-ibadan expressway in the night as of old, when day travels aren't even safe anymore. With good leaders in place, all these nonsense won't happen. Lives don't matter to them. We used to have highway patrol team in prado jeeps back then. Nothing like that again and all these happened in the era of the military

stop being delusional.. so because the world is going green, we should stopping tapping the liquid gold we have underneath... we are producing the oil to sell not use locally.. ask yourself why there is still a demand for oil by same countries championing going green?

nairalanda1:
Benefits of subsidy removal

Which might have come earlier in 2012 or even 1993, or even 1988.


Modified

NO, I am not praising emilokan. he opposed subsidy removal in 2012. He had to remove subsides in 2023, because there quite frankly wasn't enough money to pay for them (and no, diverting yacht and cutting government money won't have paid for the whole thing. Maybe a few months, then that wouild be it).

The thing about subsidy removal is simple. Subsides on refined products prevent profits being made on refined products. Plus government in Nigeria oftentimes has difficulty paying for subsides over the decades because the monies for subsides come from the same crude oil revenue...not from taxes on the populace as seen normally...and oil money cannot fund subsides adequately.

Now that subsidy has gone, there is a chance profits can be made , especially since no more price controls. So, NNPC is launching investment drive.

Of course, now we have the issue of falling oil prices, so investment may be hurt by that, regardless.

what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

AJSfan:
stop being delusional..

He is right.

OIl is becoming irrelevant. I don't think it would become irrelevant by 2035...that is where i disagree with him....but the issue is, electric vehicles are becoming more and more ubiquitos in the developed world. And much better. In 2006, BYD's first electric car could go 150km without charging. Now they are considered better than tesla...which can do more than 150 on a single charge.

But the scary thing is the concept of even more stronger batteries....and then there is the developments in nuclear fusion. Once it comes, oil is gone .

We have to prepare for that no oil future yesterday, and it is a sad thing your government is not doing anything about it.

lexy2014:


what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

You must tap into your katra to defeat the Mortocks, young Sinmar.

AJSfan:
stop being delusional.. so because the world is going green, we should stopping tapping the liquid gold we have underneath... we are producing the oil to sell not use locally.. ask yourself why there is still a demand for oil by same countries championing going green?

You don't just insult people for the sake of it.
That man obviously saw better days in this country and he's also still doing fine. Man is just worried for our generation and that of our children. You entirely missed the import of his post. Everything is not politics. Heck!

So we should sit and wait till 2030 ?
Useless fellows...
Since 1960 we have been waiting
Make una continue to enrich urselves with our crude oil money,
One day is one day

lexy2014:


what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

Young maglenine, you must preprare the fruits for lady Zaleen

They are still eying. Chai! If no be say nigerians are incredibly stupid our story would have been so different

nairalanda1:

You must tap into your katra to defeat the Mortocks, young Sinmar.

You must tap into your katra to defeat the Mortocks, young Sinmar.

what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

lexy2014:


what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

Your husband will see you now, Lady Anastea Astarte.

lexy2014:


You must tap into your katra to defeat the Mortocks, young Sinmar.

what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

I see that the birds have flown from this one's nest

lexy2014:


You must tap into your katra to defeat the Mortocks, young Sinmar.

what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

Are you experienced in the ways of the Ladies of the Moon, young bannister?

baralatie:
In refining, the new GCEO outlined plans to expand Nigeria’s domestic refining capacity to 200,000 bpd by 2027, scaling up to 500,000 bpd by 2030. This is seen as a critical step toward achieving energy self-sufficiency and reducing reliance on imported petroleum products.

how does the GCEO intend to "expand Nigeria’s domestic refining capacity to 200,000 bpd by 2027, scaling up to 500,000 bpd by 2030"?

lexy2014:


You must tap into your katra to defeat the Mortocks, young Sinmar.

what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

Have you dipped into the famous Pool of Kalinariam, and drank of the waters of the Twelve sisters of Lam?

nairaLand649:
Please am in need of a for the sake of God my little daughter's is not feeling well and we have already spent all the amounts with us but it remain a little to continue the treatment she has been given to at the hospital. i have all evidenced to this pleases try to help us. and by special grace of almighty God both a cures and incurables disease and illness shall never know it way and it direction to your life and including to all your family and all your loved ones amen.

I have all the necessary evidences of prove this please am not here to cheat anyone or use the money for something's else apart the illness of my kids please you can everythings even if it's with a video call or any other thing please and please this my incase of anything!

OPAY

90. 69 32 10 40

A. AREMU. A

U only ed this April to tell us this crap?
Go to ur leaders , if u all can't come together to fight ur leader , then u can continue ur begging,
Scammer

AJSfan:
stop being delusional.. so because the world is going green, we should stopping tapping the liquid gold we have underneath... we are producing the oil to sell not use locally.. ask yourself why there is still a demand for oil by same countries championing going green?

You guys are the most-delusional beings I've ever seen. Why not invest on lithium technology instead of crude, since we also have the materials locally instead of flexing muscle on increase in the crude production capacity? I when abacha said Nigeria would earn low revenue, should we embrace GSM because Nitel would
be no more. When ordinary Benin republic don dey use gsm, ATM too, we never even dream say we go launch ours. Today, they make baastard money from gsm revolution, employment sef plenty. What of the benefits accrued from it's use... they're uncountable.

Read the below,Mr delusional.

https://www.weforum.org/stories/2023/03/this-eu-law-will-require-all-new-cars-sold-to-have-zero-co2-emissions-from-2035

https://www.gov.uk/government/news/pathway-for-zero-emission-vehicle-transition-by-2035-becomes-law

https://www.canada.ca/en/services/environment/weather/climatechange/climate-plan/2035-emissions-reduction-target/charting-course-high-level-description.html

https://www.esgtoday.com/california-to-end-sales-of-gas-powered-cars-by-2035

https://ec.europa.eu/commission/presscorner/detail/en/ip_22_6462

happy reading

lexy2014:


You must tap into your katra to defeat the Mortocks, young Sinmar.

what is subsidy?

how do subsidies on refined products prevent profits being made on refined products?

if you say "oil money cannot fund subsides adequately", other oil producing countries that still subsidise fuel, where are they getting funds to subsidise fuel?

according to you..."Now that subsidy has gone, there is a chance profits can be made".

who is going to make the profit?

how has subsidy prevented anyone from making profit?

"A chance..." why are you not certain? why is it "a chance"?

DO you like the Jatra. ? Is it not a fine beast.