The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to boost crude oil production to two million barrels per day by the end of the year, despite facing domestic supply challenges.
At an event with maritime stakeholders at the Nigerian Navy Headquarters on Tuesday, NNPCL’s Group Chief Executive Officer, Mele Kyari, expressed confidence in achieving this target, reaffirming the company’s commitment. Kyari, represented by Folorunsho Karim, the Managing Director of Pipeline at NNPCL, called on security agencies to intensify their efforts against oil theft and pipeline vandalism to support this goal.
“The target is to increase production to two million barrels by the end of the year, and we are fully committed to doing that. I appreciate the support of the Nigerian Navy in making this possible,” Kyari stated.
This announcement follows President Bola Ahmed Tinubu’s directive for NNPCL to sell crude oil to Dangote Refinery and other local refineries in Naira. The government believes this move will alleviate pressure on the country’s foreign exchange demand for imports.
However, oil and gas experts have expressed doubts about NNPCL’s ability to meet supply commitments to Dangote Refinery. According to the Nigerian Upstream Petroleum Regulatory Commission, the country’s daily production increased from 1.27 million barrels in June to 1.6 million in July.
