The Nigerian National Petroleum Company (NNPC) Limited has called for deeper collaboration among governments, investors and industry stakeholders to accelerate Africa's energy development, as Nigeria's crude oil production climbed to 1.71 million barrels per day, its highest level in five years.
The Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, made the call on Tuesday while delivering the keynote address at the opening of the 25th NOG Energy Week in Abuja, where he also presented the company's one-year performance scorecard.
Ojulari said strategic partnerships remain critical to unlocking Africa's enormous energy resources, attracting investment and creating sustainable economic growth across the continent.
He disclosed that NNPC achieved an average 98 per cent recovery across its five crude oil export terminals between April 2025 and May 2026, compared with operational lows recorded in 2022.
According to him, NNPC Exploration and Production Limited (NEPL) recorded a historic production level of 365,000 barrels of crude oil per day, while the company's gas output rose to 7.5 billion standard cubic feet daily following the completion of the River Niger crossing on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the commissioning of the ANOH Gas Processing Plant.
Ojulari said the company maintained full compliance with Joint Venture cash call obligations throughout 2025 and up to June 2026, while continuing efforts to achieve a national crude oil production target of two million barrels per day.
He also announced the execution of major Gas Sale and Purchase Agreements (GSPAs), covering 1.29 billion standard cubic feet per day for long-term liquefied natural gas feedstock and 750 million standard cubic feet per day for domestic industrial gas supply to DFL FZE and Dangote Refinery.
The agreements, he said, are expected to generate more than 20 billion dollars in investments, with seven additional commercial transactions currently under negotiation.
Highlighting reforms aimed at improving corporate governance, Ojulari said NNPC resumed full monthly remittances to the Federation Account in July 2025, restored monthly business performance reporting and held its first earnings call in November 2025 to boost transparency and strengthen investor confidence.
He urged stakeholders to embrace integrated partnerships that connect finance, technology, policy and innovation rather than pursuing isolated projects.
Describing NNPC as an ecosystem builder, Ojulari said the company is committed to creating long-term value by linking capital, technology, talent and markets across the energy value chain.
He identified fragmented collaboration as a major challenge facing Africa's energy sector, noting that despite possessing about 17 per cent of the world's natural gas reserves and abundant oil and renewable energy resources, the continent continues to attract only a small share of global energy investment.
Ojulari called on governments, regulators, financiers, academia, service providers and national oil companies to work together to position Africa as a leading destination for energy investment, innovation and industrial growth.
The 25th NOG Energy Week brings together policymakers, industry leaders, investors and technology providers from across the world to explore opportunities for advancing energy security, sustainability and economic development in Nigeria and Africa.