The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Engr. Bayo Ojulari, has assured Nigerians of robust energy security during and after the festive season, declaring that the country’s crude oil production has recorded a significant rebound to 1.8 million barrels per day.
Ojulari gave the assurance yesterday (Saturday) during an interview with Correspondents after a closed-door briefing with President Bola Ahmed Tinubu at his private residence in Lagos.
The NNPC GCEO, who visited the President to provide an end-of-year operational update, stated that the queues witnessed in some parts of the country earlier in the month have been fully addressed through an aggressive dispatch mechanism.
Speaking on the outcome of his meeting with the President, Ojulari said: “I came to brief Mr. President on our end-of-year performance and to wish him a Happy New Year in advance. The good news for Nigerians is that we have stabilized the supply chain. We have over 2 billion litres of PMS in stock, so there is absolutely no need for panic buying or hoarding. The President has given us a marching order to ensure that no Nigerian suffers on queues this holiday, and we are delivering on that.”
When asked about the state of the upstream sector, Ojulari revealed that the renewed security architecture and the company’s recent strategic re-entry into Ogoniland have begun to yield massive dividends.
“We are currently averaging 1.8 million barrels per day, inclusive of condensates. This is a leap from where we were at the beginning of 2025. The peace deals we struck in the Niger Delta, especially with our recent engagement in Ogoniland just last week, are restoring investor confidence.”
“I assured Mr. President that by Q1 2026, we will be hitting the 2 million barrels daily target as stipulated in our new operational mandate. The war on crude theft is being won, and the terminals are buzzing again,” he added.
On the status of the domestic refineries, the NNPC boss noted that the Port Harcourt refinery is running optimally, contributing significantly to the reduction of diesel and kerosene imports.
He also hinted at a major announcement regarding the Warri Refinery in January 2026.
“We are not just importing; we are refining. The President’s directive on the ‘Nigeria First’ energy policy is what drives our 2026 outlook. We are prioritizing domestic gas utilization to power industries and homes, reducing our reliance on expensive fossil fuel imports,” Ojulari concluded.
The GCEO was accompanied on the visit by the NNPC Board Chairman, Ahmadu Musa Kida.