Nigeria could raise its oil production by about 100,000 barrels per day in the next few months, according to Bashir Bayo Ojulari, the group chief executive of Nigerian National Petroleum Company, Reuters reported.
He said the country produced an average of between 1.6 million and 1.7 million barrels per day last year and is aiming to reach an average of 1.8 million bpd this year.
Speaking to Reuters on the sidelines of the CERAWeek by S&P Global in Houston, Ojulari made the remarks when asked whether Nigeria could help offset crude supply disruptions linked to the U.S.-Israeli war involving Iran.
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“We are building that capacity,” he said, adding, “we are not like Saudi (Arabia),” in reference to Saudi Arabia, a leading member of OPEC. “But we can contribute.”
During an onstage interview at the conference, Ojulari also explained that NNPC carried out a comprehensive review of its business portfolio last year and has started implementing changes in 2026.
He noted that a key priority is improving execution and ensuring projects are completed on time and within budget, following delays experienced in the past.
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Image Credit: Business Day
