The Nigerian National Petroleum Company Limited has announced that it has declared a state of emergency on oil production.
The company stated that the initiative aims to boost Nigeria’s crude oil production and expand its reserves.
Mele Kyari, Group Chief Executive Officer of NNPCL, announced this development during his keynote address at the 23rd Nigeria Oil and Gas Conference and Exhibition Week on Tuesday, July 2, 2024, in Abuja.
“We have decided to end the debate. We have declared war on the challenges hindering our crude oil production. War means war. We have the right tools, we know what to combat, and we know what actions are needed at the asset level. We have engaged our partners and will work together to improve the situation,” Kyari stated.
He further explained that asset analysis indicates Nigeria could comfortably produce two million barrels of crude oil per day. However, he noted that the primary obstacle to achieving this goal is the industry’s failure to act promptly.
