The Nigerian National Petroleum Company Limited has announced a significant increase in crude oil production to 1.71 million barrels per day, the highest level recorded in five years, as part of its one-year performance report under the leadership of its Group Chief Executive Officer, Bayo Ojulari.
The update was shared via the official X handle of the GCEO on Sunday, who described the report as a demonstration of accountability and measurable progress across the oil giant’s operations.
Providing a breakdown of achievements between April 2025 and April 2026, the company said its upstream subsidiary, NNPC Exploration and Production Limited, also recorded a milestone, reaching an all-time peak production of 365,000 barrels per day in December 2025.
It read, “Oil Production: Increased crude oil production to 1.71 million bpd (highest in five years). NEPL achieved an all-time peak production of 365,000 bpd in December 2025.
PPLS 2000, 2001 PSC: Executed a model PSC for PPL 2000 & 2001 successfully. The first PSC to include comprehensive terms designed to facilitate the development of deepwater non-associated gas resources.”
The report further highlighted the execution of a new Production Sharing Contract model for oil blocks PPL 2000 and 2001, noting that the framework includes comprehensive terms to unlock deepwater non-associated gas resources, an area long considered underdeveloped in Nigeria’s energy mix.
It also disclosed that it supported the resolution of the long-standing dispute surrounding the former OPL 245 (Zabazaba/Etan) asset, which has now been converted into new Production Sharing Contracts covering PMLS 102 and 103, as well as PPLs 2011 and 2012.
In the gas segment, the company reported major infrastructure milestones, including the completion of the River Niger crossing of the Ajaokuta-Kaduna-Kano pipeline in July 2025, alongside the welding of the entire pipeline network.
It also confirmed the commissioning of the Assa North-Ohaji South processing plant and its connection to the Obiafu-Obrikom-Oben pipeline, a critical link in Nigeria’s domestic gas supply chain.
According to the report, gas supply rose to 7.5 billion standard cubic feet per day in 2025, supported by multiple commercial agreements. These include a Network Exit Agreement between NGIC and Dangote Fertiliser Limited, as well as supply deals involving NGML, Dangote Cement, and the Dangote Refinery.
The company added that it launched a Gas Master Plan in January 2026 and signed additional supply agreements, including one with CNG Ibese, while continuing optimisation work on the Soku gas pipeline infrastructure.
On refining, NNPC said it had introduced an Incorporated Joint Venture model aimed at repositioning its refineries to operate as commercially viable and self-financing entities.
It also confirmed the consolidation of its 7.25 per cent equity stake in the Dangote Refinery, describing the move as critical to safeguarding national energy interests.
The company reiterated its continued crude oil supply to the refinery under the “crude-for-naira” initiative, a policy designed to reduce foreign exchange pressure and stabilise domestic fuel supply.
“Sustained support for Dangote Refinery through crude oil supply under the ‘crude-for-naira’ programme,” it added.
NNPC said it strengthened its international footprint through strategic shipping partnerships with global firms, including Stena Bulk and Sonangol, while also launching a new crude grade, Cawthorne. It added that its Oleum lubricant brand had been expanded into the West African subregion.
In terms of project development, the company disclosed that it secured presidential approval for incentives aimed at unlocking the Final Investment Decision on the Bonga South West Aparo project under the OML 118 Production Sharing Contract.
Additionally, it signed a tripartite Memorandum of Understanding with China Gas Holding Limited and Peiyang Chemical Singapore PTE Ltd to accelerate gas commercialisation.
A major highlight of the report is the resumption of full monthly remittances to the Federation Account Allocation Committee since July 2025. NNPC said it had also reintroduced monthly performance reporting and held its first-ever earnings call in November 2025, moves seen as part of efforts to improve transparency and investor confidence.
