Nigeria could increase its crude oil production by about 100,000 barrels per day over the next few months, according to Nigerian National Petroleum Company Limited (NNPC) Group Chief Executive Officer Bashir Bayo Ojulari.
Ojulari spoke in an interview with Reuters on the sidelines of the CERAWeek by S&P Global energy conference in Houston.
He said Nigeria is gradually building capacity to boost output, even if it cannot match the scale of top producers such as Saudi Arabia.
The NNPC chief stressed that the country can still make a meaningful contribution to global supply at a time when geopolitical tensions are affecting oil markets.
Ojulari explained that Nigeria averaged between 1.6 million and 1.7 million barrels per day of crude and condensates last year.
The country is targeting an average of around 1.8 million barrels per day in 2026, he added.
The planned increase could help offset disruptions linked to conflicts involving the United States, Israel, and Iran.
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He noted that NNPC has been implementing internal reforms, including a full portfolio review completed in 2025 and a renewed focus on project execution and delivery timelines.
Efforts are underway to ensure new projects are completed on budget after earlier delays.
Despite these efforts, Nigeria’s crude oil output remains under pressure, with production falling to about 1.31 million barrels per day in February 2026.
This figure is down from roughly 1.46 million barrels per day in January, according to data from the Organisation of the Petroleum Exporting Countries.
Analysts say government income is closely tied to oil production volumes and international prices.
A sustained rise in output could help strengthen foreign exchange reserves and ease fiscal strain.
The 2026 budget is benchmarked on a more cautious 1.8 million barrels per day target, even though upstream regulators have talked about longer-term ambitions of up to 2.6 million barrels per day.
NNPC is also pursuing plans to develop new oil fields from 2026 and has outlined a goal of attracting at least $30 billion in investments by 2030.
If the expected increase materialises in the coming months, it would signal early progress for Nigeria’s production recovery plans.
It could also improve the country’s position within the wider OPEC alliance, where it has repeatedly struggled to meet its output quota in recent years.
