Nigeria’s aspiration to reassert itself as a heavyweight in the global energy sector is gaining fresh momentum.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has unveiled an ambitious investment roadmap aimed at scaling up its operations and rebranding its economic significance on the global stage.
The state-owned energy giant is targeting $30 billion in sectoral investments by 2027 and $60 billion by the end of the decade, according to Group Chief Executive Officer, Bashir Bayo Ojulari, who presented the plan during a strategic townhall session at the NNPC Towers in Abuja.
“This isn’t just about investment; it’s a fundamental shift in how we operate,” Ojulari said, adding: “Performance, transparency, and market alignment will define the new NNPC.”
Production, Refining and Gas Goals
Under the new strategy, NNPC plans to raise crude oil production to over 2 million barrels per day by 2027, with a goal of reaching 3 million barrels per day by 2030. On the downstream front, refining capacity is expected to hit 200,000 barrels per day within two years, with projections of 500,000 barrels per day by 2030.
In the gas segment, NNPC shared ambition to raise production to 10 billion cubic feet per day by 2027 and grow further to 12 billion cubic feet by the end of the decade.
“These numbers aren’t just metrics. They translate to employment, industrialisation, and improved energy access for millions of Nigerians,” Ojulari noted.
Organisational Transformation and New Culture
To achieve these targets, NNPC is adopting a comprehensive reform strategy. This includes restructuring its operating model for increased agility, implementing independent value assessments to guide data-driven decisions, and cultivating a culture of performance across the organization.
Ojulari also emphasized the importance of perception management, urging employees and partners to champion the company’s transformation journey.
“It’s time to reshape how NNPC is perceived—globally and locally—as a company that is future-focused, results-driven, and proudly Nigerian,” he said.
Inclusive Growth and Talent Integration
Workforce development is another pillar of the company’s new direction as the Group CEO highlighted the need to create an inclusive environment where experienced professionals and emerging talent can thrive side-by-side.
He pledged to promote inclusive growth through sustained capacity-building efforts and high-performance management systems, underscoring that the company’s evolution would require collective effort and buy-in from all stakeholders.
Strategic Outlook Amid Economic Pressures
The ambitious roadmap comes at a critical time for Nigeria, which is grappling with underinvestment in energy infrastructure, foreign exchange volatility, and persistent revenue challenges.
Industry analysts say the successful implementation of NNPC’s transformation strategy could play a decisive role in restoring investor confidence and attracting long-term capital to Nigeria’s core economic sectors.
Ojulari concluded with a firm call to action: “We have an opportunity to redefine not only NNPC, but Nigeria’s energy future. The challenge is great—but the rewards are greater. This is our moment to deliver.”
