NNPCL Limited aims 2mn BPD production by 2024 – Akinyelure
The newly inaugurated Pius Akinyelure-led Board of the Nigerian National Petroleum Company (NNPC) Limited, on Monday, December 18, said it is committed to increasing the nation’s crude oil production to a minimum of 2 million barrels per day by 2024.
The chairman of the NNPC Limited Board, Chief Akinyelure disclosed this while speaking to journalists after the inauguration of the Board by President Bola Tinubu at the State House, Abuja.
The board has also promised that Nigeria will compete with the oil and gas industry around the world while it ensures that the key performance Indicators of the Oil Industry of the country are rated number one in Africa.
It would be recalled that the nation’s petroleum sector has battled massive oil theft and vandalism of oil and gas facilities over decades, leading to significant economic losses and environmental degradation.
In 2022, Nigeria lost at least $2bn to oil theft, according to an inquiry by the National Assembly, which also revealed that only 66 percent of the country’s oil production could be effectively guaranteed.
The report of the inquiry, which was made public in November last year, also said the other 33 percent was affected by theft and lost production “due to the third-party easy access on land terrain.”
Speaking at the Villa on Monday, Chief Akinyelure said if the board is to achieve this, the federal government would ensure an overhaul of the security architecture of the oil-producing regions across the country to end the issue of Oil theft and vandalisation of pipelines.
He said: “It is not an easy task we know we have the challenge of Oil stealing, and vandalisation of our pipelines, our commitment is to produce 2 million barrels per day anytime from next year but for this, we have to overhaul our security architecture so that the incidences of stealing, vandalisation of oil pipelines can be reduced and this will help to beef up our cash flow and we will become a better nation.”
The chairman also said that the Board members assured the President of collective efforts to reposition the Nigerian National Petroleum Company Limited to sustain the economy better while guaranteeing improved fortune for Nigeria.
He stated: “We have assured him of our collective effort 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
Chief Akinyelure further made known that the board secured 100 percent assurance and support of the President to carry out its responsibilities fully.
He added: “He has assured us of his support and on our part too we have given him our 100percent assurance that we will do the best we can to make sure the key performance Indicators of the oil Industry in Nigeria will be rated number one in Africa and proudly competing with Oil and Gas industry around the world.”
The Nigerian Leader inaugurated the newly appointed Board members on Monday at the State House, Abuja.
Recall that on November 28th, the Nigerian President, Bola Ahmed Tinubu appointed Chief Pius Akinyelure as board chairman of the Nigerian National Petroleum Company (NNPC) Limited alongside eight other board members.
Other board members include Mele Kolo Kyari, Alhaji Umar Isa Ajiya, Mr. Ledum Mitee, Mr Musa Tumsa, and Mr Ghali Muhammad.
Others are Prof. Mustapha Aliyu, Mr. David Ogbodo, and Ms. Eunice Thomas
