LAGOS — The Nigeria National Petroleum Company Limited (NNPCL) has achieved a five-year production peak of 1.71 million barrels per day, according to its mandate report for the period ending April 2026.
The company’s exploration arm, NEPL, also recorded a historic peak output of 365,000 barrels per day in December 2025, signaling a robust recovery in upstream operations.
This growth follows the resolution of the long-standing OPL 245 dispute, which has been successfully converted into new Production Sharing Contracts for deepwater gas resources.
Financially, the firm resumed full monthly remittances to the Federation Account in July 2025 and hosted its inaugural earnings call in November to improve corporate transparency.
The report confirms NNPC consolidated a 7.25% equity stake in the Dangote Refinery, sustained by a strategic “crude-for-naira” supply program to ensure national energy security.
In the gas sector, the firm completed the AKK River Niger crossing in July 2025 and commissioned the ANOH gas processing plant to enhance domestic supply.
Total gas supply reached 7.5 billion standard cubic feet per day, supported by new distribution deals with major industrial players like Dangote Cement and CNG Ibese.
The company also launched the “Fit4Future” initiative, onboarding 1,000 new staff members to drive a major internal reorganization focused on profitability and execution excellence.
A new Incorporated Joint Venture model was introduced for refineries, aiming to create a sustainable structure where each facility can self-finance and operate competitively.
This performance follows Nigeria’s recent struggles with oil theft and pipeline vandalism, which had previously dragged production below 1.2 million barrels per day in 2024.
“Over the past year, we have delivered steady progress against our mandate, with measurable results across production, financial performance, infrastructure, and organisational culture.” Said Bayo Ojulari, NNPCL Group CEO on Sunday.
Analysts suggest that maintaining this 1.7 million bpd momentum is vital for the Federal Government’s 2026 budget assumptions and stabilizing the volatile Naira exchange rate.
