Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC Ltd), Bayo Ojulari, has said that Nigeria has the potential to increase its crude oil production by about 100,000 barrels per day (bpd) over the next few months.
He stated this in an interview with Reuters on the sidelines of the CERAWeek by S&P Global conference in Houston.
According to him, Nigeria is gradually building capacity to boost production, although it may not match the scale of leading oil producers.
“We are not like Saudi (Arabia), but we can contribute,” Ojulari said.
He noted that Nigeria averaged about 1.6 million to 1.7 million bpd last year.
The country has a target average production of 1.8 million bpd in 2026.
Ojulari added that the production increase could help offset supply disruptions linked to global conflicts, including tensions involving the U.S., Israel, and Iran.
