The Nigerian National Petroleum Company (NNPCL) Limited has recorded a five-year high in Nigeria's crude oil production, with output rising to 1.71 million barrels per day amid improved pipeline availability and operational stability.
The increase comes as the state-owned oil company targets production of two million barrels per day by 2027 and three million barrels per day by 2030.
The Group Chief Executive Officer of NNPC Limited, Bashir Bayo Ojulari, disclosed this on Tuesday while presenting the company's one-year performance scorecard at the opening of the 25th NOG Energy Week in Abuja.
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Ojulari said the company's exploration and production subsidiary, NNPC Exploration and Production Limited, also achieved a record output of 365,000 barrels per day.
He attributed the improvement to better security, infrastructure recovery and increased operational efficiency across the country's oil-producing assets.
According to him, Nigeria's crude export terminals recorded an average recovery factor of 98 per cent between April 2025 and May 2026, compared with operational lows at some facilities in previous years.
"The journey from near-zero terminal performance to approximately 98 per cent recovery across our export terminals represents what can be achieved through collaboration, operational discipline and sustained investments in security and infrastructure," he said.
The NNPC chief added that major evacuation pipelines, including the Trans Niger, Trans Escravos, Trans Ramos and Trans Forcados pipelines, as well as the Oando-Brass line, were operating at full availability.
Beyond increased crude production, Ojulari said the company had reduced operating costs by $3.4bn through contract restructuring and optimisation.
He said the savings were achieved without slowing operations, describing the development as evidence that efficiency and commercial discipline could improve returns to the country.
The company's scorecard also showed a six per cent increase in crude oil production to 569.7 million barrels year on year, while gas production rose by 8.1 per cent to 2,576 billion standard cubic feet.
Its contribution to government revenue increased by 21.8 per cent to N19.5tn during the review period.
"Our transformation is yielding measurable outcomes. We have achieved a six per cent increase in crude oil production, an 8.1 per cent increase in gas production, delivered N19.5tn in government take to the Federation, representing a 21.8 per cent increase, and successfully reduced costs by $3.4bn," Ojulari said.
On gas development, he disclosed that NNPC had signed gas sale and purchase agreements covering 1.29 billion standard cubic feet per day of long-term liquefied natural gas feedstock and another 750 million standard cubic feet per day for domestic industrial supply to DFL FZE and Dangote Refinery.
The agreements are expected to attract more than $20bn in associated investments, with seven other commercial transactions under negotiation.
Ojulari also said NNPC maintained full compliance with its joint venture cash-call obligations throughout 2025 and up to June 2026, although some partners remained behind on their financial commitments.
He said the company had also resumed full monthly remittances to the Federation Account in July 2025 and introduced regular business performance reporting to strengthen transparency.
The NNPC boss said the company's long-term gas production targets were 10 billion cubic feet per day by 2027 and 12 billion cubic feet per day by 2030, from about 7.62 billion cubic feet per day projected for this year.
He called for stronger partnerships among African governments, investors, regulators and energy companies, arguing that fragmented investments were limiting the continent's ability to maximise its oil and gas resources.
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