National News – The Nigerian National Petroleum Company Limited (NNPC) has reported a surge in crude oil production to 1.71 million barrels per day, marking a five-year high as disclosed in its April 2025 to April 2026 performance review under Group Chief Executive Officer Bayo Ojulari.
Announced on Sunday via official channels in Lagos, the update highlights that Nigeria’s upstream output recovery is driven by improved field performance, new production sharing contracts, and better infrastructure coordination across key oil assets.
Gas production also rose to 7.5 billion standard cubic feet per day, supported by new pipelines, processing facilities, and commercial agreements with major industrial players including Dangote-linked operations, signaling a stronger push toward gas as Nigeria’s transition fuel.
Beyond production gains, NNPC introduced refinery restructuring through an incorporated joint venture model, aimed at making state refineries commercially viable, while also consolidating its stake in the Dangote Refinery to strengthen downstream security and reduce import dependence.
However, analysts and many Nigerians remain cautious, citing past production claims that failed to translate into stable fuel prices.
While the company points to improved transparency, including earnings calls and remittances to the federation account, concerns persist over oil theft, pipeline vandalism, and long-term sustainability of output growth.
According to the report, the surge reflects a broader government push to reposition Nigeria’s oil sector under the Petroleum Industry Act, improve foreign exchange inflows, and attract investment into deepwater and gas projects.
If sustained, the output level could ease pressure on fuel imports, support naira stability, and improve government revenue allocations.
Industry stakeholders say the key test will be whether production gains translate into consistent refinery output and reduced pump price volatility across Nigerian cities.
Civil society groups also argue that transparency measures must be matched with stricter accountability for oil theft networks and improved security across pipelines in the Niger Delta.
Overall, the report signals cautious optimism for Nigeria’s energy sector as reforms deepen and output improves, but sustained progress will depend on security, investment confidence, and effective implementation.
