Group Chief Executive Officer (GCEO) of the NNPC Limited, Bayo Ojulari has recounted his achievements within the past one year.
Ojulari highlighted his achievements in the company’s One-Year Mandate Report (April 2025 – April 2026) released over the weekend.
According to the report, the state-owned energy giant reported that crude oil trading has surged to 1.71 million barrels per day (bpd), the highest level recorded in five years. A significant driver of this growth was the performance of its flagship upstream subsidiary, NEPL, which achieved an all-time peak production of 365,000 bpd in December 2025.
On the regulatory front, NNPC successfully moved to unlock billions in potential investment by resolving the long-standing OPL 245 (Zabazaba/Etan) dispute. The asset has now been converted into a new Production Sharing Contract (PSC), clearing the path for deepwater development.
The report also revealed that the company executed a model PSC for deepwater non-associated gas, the first of its kind aimed at incentivizing the extraction of gas from Nigeria’s deep offshore fields.
NNPC Limited further consolidated its 7.25% equity stake in the Dangote Refinery, framing it as a move to ensure national energy security.