The Nigerian National Petroleum Company Limited has unveiled its strategic roadmap to drive sustained growth and support Nigeria’s energy transition through 2030.
The plan gives priority to increased oil and gas production and outlines a $60 billion investment pipeline across the energy value chain.
The company also announced its financial performance for the full year ended 2024, reporting a Profit After Tax of ₦5.4 trillion on revenue of ₦45.1 trillion.
The results underscore a year of strong operational delivery and demonstrate strengthened financial resilience.
Commenting,Bashir Bayo Ojulari, Group Chief Executive Officer,NNPC Limited,said:“The earnings highlight the positive momentum of our ongoing transformation and the unwavering commitment of our workforce.They offer a solid foundation for the ambitious growth ahead, in line with President Bola Ahmed Tinubu’s mandate, and reaffirm our commitment to delivering value to Nigerians.”
He hinted that NNPC Limited is accelerating investments across upstream operations, gas infrastructure, and clean energy to extend growth into the next decade.
According to him, key strategic targets include,increasing crude oil production to 2 million barrels per day (bpd) by 2027 and 3 million bpd by 2030, growing natural gas production to 10 bcf/d by 2027 and 12 bcf/d by 2030 and completing major gas infrastructure projects such as Ajaokuta-Kaduna-Kano (AKK), Escravos-Lagos Pipeline System (ELPS) and Obiafu-Obrikom-Oben (OB3) pipelines to strengthen domestic supply and regional integration.
He added other targets are mobilising $60 billion in investments across the upstream, midstream, and downstream sectors by 2030.
“Our transformation is anchored on transparency, innovation, and disciplined growth,” Ojulari added. We are positioning NNPC Limited as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa.”
