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The Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), Bashir Bayo Ojulari, announced on Monday that Nigeria has the capacity to increase its oil production by approximately 100,000 barrels per day (bpd) in the coming months.
Speaking at the CERAWeek conference in Houston, Ojulari noted that the country aims to raise its average output to 1.8 million bpd this year, up from last year’s average of 1.6 to 1.7 million bpd.
This potential increase comes as global markets look for alternatives to bridge the supply gap caused by the ongoing conflict involving the U.S., Israel, and Iran.
While acknowledging that Nigeria does not possess the massive spare capacity of top OPEC producers like Saudi Arabia, Ojulari emphasised that the nation is actively building its infrastructure to contribute to global energy stability.
He stated that the NNPCL is focused on implementing strategic changes following a comprehensive portfolio review conducted last year.
A primary goal for the company in 2026 is to improve project execution, ensuring that future developments are completed both on schedule and within budget to avoid the delays that have hindered past growth.
The move to ramp up production is seen as a significant step for Nigeria as it navigates a volatile international energy landscape.
The NNPCL hopes to solidify Nigeria’s role as a reliable energy partner by focusing on operational efficiency and timely project delivery.
Ojulari’s comments reflect a broader push within the Nigerian energy sector to capitalise on current market demands while addressing long-standing structural challenges to maximise the country’s resource potential.
