The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Bashir Ojulari, has announced an ambitious plan to attract $60 billion in investments into Nigeria’s oil and gas sector by 2030. Aiming for a $30 billion milestone by 2027, the initiative signals a bold shift in the nation’s energy strategy.
Ojulari made the announcement during a town hall meeting with NNPC staff in Abuja, marking his first major address since his appointment earlier this month.
“We stand at the gateway of a new era—one that demands courage, professionalism, and a relentless drive for excellence,” Ojulari said. “Now is the time to turn our transformation promise into performance.”
Strategic Production and Refining Goals
Under his leadership, NNPC Ltd. is setting new targets across the oil and gas value chain. Crude oil production is expected to reach and sustain over 2 million barrels per day (bpd) by 2027, with a long-term goal of 3 million bpd by 2030.
In refining, the company plans to increase domestic capacity from current levels to 200,000 bpd by 2027 and up to 500,000 bpd by 2030 — a move designed to reduce Nigeria’s reliance on imported fuel and boost local supply.
For the gas sector, Ojulari outlined plans to expand production from the current levels to 10 billion cubic feet (bcf) per day by 2027 and 12 bcf per day by 2030. This aligns with Nigeria’s “Decade of Gas” initiative, which supports the transition to cleaner and more sustainable energy.
Restructuring NNPC for Results
Ojulari emphasized the need for a radical overhaul of NNPC’s internal systems to deliver on these targets.
“To achieve these goals, we must restructure our business, apply independent value assessments, and implement a robust performance management framework,” he stated.
He stressed the importance of building transparent, mutually beneficial partnerships with local and international players, repositioning NNPC Ltd. as a progressive and performance-driven organization.
“These targets are more than numbers — they represent hope, jobs, economic growth, and energy security for Nigerians,” he added.
People-Centered Leadership
Ojulari also pledged a strong focus on workforce development, inclusion, and employee empowerment.
“Our greatest asset is our people. We are creating an environment where both seasoned professionals and young talents can thrive,” he said.
He called on employees to act with urgency, lead with integrity, and fully embrace the company’s new strategic direction. He also reaffirmed his commitment to working closely with staff unions and promoting a culture of collaboration and shared goals.
What You Should Know
Ojulari was appointed GCEO of NNPC Ltd. by President Bola Tinubu on April 2, 2025, following a major board restructuring. The shake-up led to the exit of the previous GCEO, Mele Kyari, and several board members, including former chairman Chief Pius Akinyelure.
Before joining NNPC Ltd., Ojulari had a distinguished career with Shell and later in the private sector, where he played a pivotal role in shaping Nigeria’s energy policy and investment landscape.