Nigeria could ramp up crude oil production by an additional 100,000 barrels per day (bpd) in the coming months, as the Nigerian National Petroleum Company (NNPC) moves to strengthen output amid shifting global supply dynamics.
Speaking at CERAWeek in Houston, NNPC Group CEO Bashir Bayo Ojulari said the country is “building that capacity,” positioning itself to contribute more meaningfully to global oil supply.
Closing the Gap to 1.8 million bpd
Nigeria currently produces between 1.6 million and 1.7 million bpd and is targeting an average of 1.8 million bpd in 2026. The additional 100,000 bpd would mark a significant step toward closing that gap especially after production dipped to about 1.31 million bpd in February 2026, highlighting ongoing volatility in output levels.
Execution Over Promises
Rather than announcing new large-scale projects, NNPC is focusing on fixing execution, historically one of the biggest bottlenecks in Nigeria’s oil sector.
Ojulari revealed the company has completed a full portfolio review and is now prioritizing:
- Faster project delivery
- Cost discipline
- On-time execution
The goal: unlock existing capacity rather than chase new expansion.
Why This Matters Now
The timing is strategic. Global oil markets remain volatile, with geopolitical tensions including conflicts involving the U.S., Israel, and Iran disrupting supply expectations.
Nigeria is positioning itself as a flexible supplier but with a reality check.
“We are not like Saudi Arabia, but we can contribute.”
The Bigger Picture
For Nigeria, this isn’t just about barrels. it’s about revenue.
Higher production could:
- Boost foreign exchange inflows
- Strengthen government revenue
- Ease fiscal pressure
But delivery remains the real test. Nigeria’s oil sector continues to face structural challenges from crude theft to infrastructure constraints that have historically capped output growth.
