Nigeria’s state oil firm, Nigerian National Petroleum Company Limited, has raised crude oil production to 1.71 million barrels per day, its highest in five years, according to its one-year performance report under Group Chief Executive Officer, Bayo Ojulari.
The report, released Sunday, April 26, 2026, covers April 2025 to April 2026 and reflects gains across upstream, gas and downstream operations.
Upstream output led the recovery, with NNPC Exploration and Production Limited hitting a record 365,000 barrels per day in December 2025.
The company also introduced a revised Production Sharing Contract model for PPL 2000 and 2001 to drive development of deepwater gas resources, and restructured the disputed OPL 245 (Zabazaba/Etan) asset into new agreements covering PMLS 102 and 103, and PPLs 2011 and 2012.
In gas, NNPC completed the River Niger crossing of the Ajaokuta–Kaduna–Kano pipeline in July 2025, finalized pipeline welding, and commissioned the Assa North–Ohaji South plant linked to the Obiafu–Obrikom–Oben network.
Gas supply rose to 7.5 billion standard cubic feet per day in 2025, supported by supply deals with major industrial users.
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On refining, the company adopted an Incorporated Joint Venture model for its refineries, consolidated its 7.25 per cent stake in the Dangote Refinery, and sustained crude supply under the “crude-for-naira” policy to support domestic fuel stability.
NNPC also expanded shipping partnerships with Stena Bulk and Sonangol, launched the Cawthorne crude grade, and grew its Oleum lubricant presence in West Africa.
It secured presidential approval to advance the Bonga South West Aparo project under OML 118 and signed a tripartite agreement with China Gas Holding Limited and Peiyang Chemical Singapore PTE Ltd to boost gas commercialisation.
Financially, the company resumed full monthly remittances to the Federation Account Allocation Committee from July 2025, reinstated monthly performance reports, and held its first earnings call in November 2025.
Ojulari, appointed Wednesday, April 2, 2025, after the exit of Mele Kyari, said the results reflect efforts to improve efficiency and accountability.
Operating under the Petroleum Industry Act, NNPC’s latest figures point to a recovery in output, stronger gas utilization and ongoing structural reforms aimed at stabilizing the sector.