The Nigerian National Petroleum Company Ltd. reported near-full recovery rates across its five crude-export terminals between April 2025 and May 2026, the firm’s Group Chief Executive Officer (GCEO) said.
This development signals a sharp operational rebound from the disruption that crippled exports three years ago.
Engr. Bashir Bayo Ojulari, NNPCL boss told delegates at the 25th NOG Energy Week in Abuja that recovery averaged about 98% across the terminals—up from roughly 1% at the Bonny Oil and Gas Terminal in June 2022.
The comments came during his keynote address at the Bola Ahmed Tinubu International Conference Centre.
“We have restored throughput and are steadily rebuilding investor confidence,” Ojulari said, outlining operational, commercial and financial milestones achieved under his tenure.
He said Nigeria’s crude production rose to 1.71 million barrels a day—the highest level in five years—while NNPC Exploration and Production Ltd. recorded a company high of 365,000 barrels a day.
Gas production, he added, climbed to about 7.5 billion standard cubic feet a day, bolstered by the completion of a River Niger crossing on the Ajaokuta‑Kaduna‑Kano pipeline and the commissioning of the ANOH gas‑processing plant.
The company also maintained full compliance with joint‑venture cash calls throughout 2025 and into June 2026, Ojulari said, and remains focused on a target of two million barrels a day of crude output.
Ojulari used the platform to press for closer cooperation across Nigeria’s energy sector, arguing that partnership was essential to attract investment, accelerate industrialisation and sustain growth across the continent.
Since the previous NOG Energy Week, NNPC said it had executed gas sale and purchase agreements covering 1.29 billion standard cubic feet per day for long‑term LNG feedstock and 750 million standard cubic feet per day for domestic industrial supply to DFL FZE and the Dangote Refinery.
The company estimated the linked investments at more than US$20 billion and said seven further commercial transactions are in negotiation.
In efforts to bolster transparency and investor confidence, Mr. Ojulari noted that NNPC Ltd. resumed full monthly remittances to the Federation Account in July 2025, reinstated monthly business‑performance reporting and held its first publicly announced earnings call in November 2025.
