The Nigerian National Petroleum Company Ltd (NNPCL) has set an ambitious target, promising to boost its crude oil production to an impressive two million barrels per day by 2024. The newly appointed Board and Management team made this significant pledge, signaling a new era for the country’s oil and gas sector.
Chief Pius Akinyelure, the Non-Executive Board Chairman of NNPCL, articulated this commitment during a briefing with State House Correspondents following the inauguration of the board by President Bola Tinubu. He also underlined the board’s determination to revamp the security infrastructure of the NNPCL to mitigate incidents of pipeline theft and vandalism.
“We have just concluded our inauguration ceremony by Mr. President and we have assured him of our collective efforts to turn around the fortune of the Oil and Gas. And to make it a company that we will all be proud of and a company that will help sustain the economy and make sure we create some element of prosperity for Nigerians,” stated Mr. Akinyelure, exuding confidence in the transformative journey ahead.
In response to the board’s commitment, President Tinubu conveyed his unwavering support, emphasizing his confidence in their ability to fulfill their mandate effectively. “He (President) has assured us of his support and on our own part too, we have given him our 100 per cent assurance,” Mr. Akinyelure affirmed.
The NNPCL’s aim to escalate its crude oil production to two million barrels per day is not devoid of challenges, particularly in the face of oil theft and pipeline vandalism. “Our commitment is to produce at the rate of two million barrels per day anytime from next year. But to do this, we have to overhaul our security architecture, so that the incidences of stealing, vandalisation of pipelines can be reduced,” explained Mr. Akinyelure, highlighting the need for enhanced security measures to safeguard the nation’s valuable assets.
This bold initiative comes in the wake of the recent appointment of a new Board and Management team for NNPCL, in line with the provisions of the Petroleum Industry Act, 2021. The distinguished appointees include Chief Pius Akinyelure as the Non-Executive Board Chairman, Malam Mele Kolo Kyari as the Group Chief Executive Officer, and Alhaji Umar Isa Ajiya as the Chief Financial Officer, among others.
As NNPCL embarks on this momentous journey to bolster Nigeria’s oil and gas industry, the spotlight now shines on their unwavering resolve to overcome challenges and emerge as a key player in the global energy landscape. This transformative vision not only holds the promise of elevating Nigeria’s stature in the African oil and gas arena but also positions it to compete on the global stage, ushering in a new era of economic prosperity and national development.
