The Nigerian National Petroleum Company Limited (NNPC Ltd) says it will develop new oil fields from 2026 to boost oil output.

The fresh exploration will also help it raise at least 30 billion dollars by 2030.

If successfully executed, NNPC’s strategy could help unlock stranded oil assets, stabilise production, and boost Nigeria’s crude output, which the company targets to increase by 5% to 1.8 million barrels per day next year and 4 million barrels per day by 2030.

Accirding to reports, the fundraising drive forms part of a broader strategy to revive Nigeria’s oil and gas sector.

The officials, quoted by the report, said NNPC anticipates key investment decisions as early as 2026, while also reviewing its asset portfolio with plans to divest non-performing oil fields to unlock capital and improve efficiency.

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