NNPC reveals $20bn investment deals in major oil and gas projects as it works to raise Nigeria’s production to two million barrels daily
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced about $20bn in commercial agreements for major oil and gas projects, signalling fresh investment commitments in Nigeria’s energy industry.
The Group Chief Executive Officer, Bashir Bayo Ojulari, disclosed this on Tuesday at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.
Speaking at an Energy Talk titled “Nigeria’s Reform Agenda: Competing for Energy Capital,” Ojulari pointed to TotalEnergies’ Ubeta, Shell’s Bonga South-West and Eni’s Zabazaba projects as evidence of renewed investor interest in the country.
He also said NNPC was developing relationships with new partners, including the Abu Dhabi National Oil Company and Chinese investors in Nigeria’s refineries, while engaging global service companies to expand industry capacity.
Ojulari attributed the improvement in national oil production to ongoing reforms, saying output had increased by 600,000 barrels per day, from approximately 1.2 million to 1.8 million barrels per day.
He identified the Petroleum Industry Act 2021, a more favourable investment climate, improved investment decisions and stronger partnerships as factors behind the increase.
The NNPC chief said the company was working towards producing two million barrels per day by 2027.
He said the plan involved sustaining existing production, maintaining infrastructure, increasing output from producing assets and progressing new projects.
On gas development, Ojulari said the Obiafu-Obrikom-Oben (OB3) pipeline was completed in August 2026.
He added that the Ajaokuta-Kaduna-Kano (AKK) pipeline was expected to deliver gas to Abuja before the end of the year, with supplies intended to support electricity generation, data centres and industrial hubs.
The developments form part of NNPC’s efforts to expand Nigeria’s oil and gas capacity while attracting investment and strengthening partnerships with international energy companies.
