The Nigerian National Petroleum Company Limited (NNPCL) has announced it has raised its daily crude oil production to 1.8 million barrels, a boost expected to enhance revenue for the Federal Government. This milestone was revealed by NNPCL Group Chief Executive Officer, Mele Kyari, during a high-level meeting at the Oil Production War Room held at NNPC Headquarters in Abuja.
The session, chaired by Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), gathered key NNPC officials, including NNPC Board Chairman Chief Pius Akinyelure, Chief Financial Officer Adedapo Segun, and other senior executives in charge of NNPC’s upstream and downstream sectors. This announcement is part of NNPC’s goal to meet national oil production targets and secure greater economic stability.
According to NNPCL, this production increase aligns with projections set in the 2024 Budget, which has budgeted revenue based on targeted oil production levels and benchmark prices. The company has also improved its gas production, reaching 7.4 million standard cubic feet of gas, an increase from earlier figures this year. This additional gas production supports the development of vital infrastructure projects like the AKK pipeline, enhancing Nigeria’s energy capacity.
Chief Production War Room Officer Lawal Musa attributed the achievement to effective teamwork and collaboration with various partners, including government agencies, local communities, and private security. “Today, the entire industry is very proud; we are grateful to have crossed the 1.8 million barrels per day mark. This is a significant milestone,” he said, noting that NNPC aims to reach 2 million barrels per day by year’s end.
Musa emphasized that since June, production has climbed steadily. The current output not only fulfills the presidential mandate to reach 1.7 million barrels daily but also opens possibilities for surpassing even higher goals. He expressed confidence that through sustained security and operational collaboration, NNPC could reach its target of 2 million barrels per day within the next few months.
Minister Lokpobiri commended NNPC’s progress, describing it as a testament to the company’s potential to meet ambitious national goals. He added, “Today, we are grateful to have crossed the 1.8 million barrels per day mark and also surpassed 7.4 BCF of gas; this is our agenda. The entire team is fully aligned and committed.”
NNPC Board Chairman Chief Pius Akinyelure echoed the Minister’s sentiments, calling on NNPC management and staff to continue striving for even greater accomplishments, highlighting this milestone as “just the beginning” of what he believes will be further historic achievements for NNPC and Nigeria.
