NNPC Ltd Aims to Achieve Production of Two Million Barrels of Crude Oil Daily from Next Year
The newly appointed Board and Management team of the Nigerian National Petroleum Company Ltd (NNPCL) pledged to achieve a daily production of two million barrels of crude oil by 2024. Chief Pius Akinyelure, the Chairman of the NNPCL Board, made this commitment after the board’s inauguration by President Bola Tinubu.
Additionally, Akinyelure highlighted the board’s intention to overhaul the security architecture of NNPCL to address incidents of theft and vandalism of pipelines, a longstanding challenge in the Nigerian oil and gas sector.
“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.”
Chief Pius Akinyelure, Chairman of the Nigerian National Petroleum Company Ltd (NNPCL) Board, revealed that President Bola Tinubu assured the new boards of his support to enable them to discharge their mandates diligently and effectively. This endorsement from the President signals a commitment to facilitating the success of the newly appointed Board and Management team in addressing challenges and achieving their goals in the oil and gas sector.
“He (President) has assured us of his support and on our part too, we have given him our one 100 percent assurance.
“We will do the best we can to make sure that the key performance in the oil and gas industry in Nigeria probably will become number one in Africa and compete with the leading oil and gas industry around the world.
“It is not an easy task but we know we had the challenge of oil stealing and vandalisation of our pipelines.
“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, and vandalization of pipelines can be reduced.
“And this will possibly help to keep all our cash book and we will become a better nation,” Akinyelure said.
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President Bola Tinubu approved the appointment of a new Board and Management team for the Nigerian National Petroleum Company Ltd (NNPCL) effective from December 1. The appointment, in compliance with Section 59 (2) of the Petroleum Industry Act, 2021, includes Chief Pius Akinyelure as Non-Executive Board Chairman, Malam Mele Kolo Kyari as Group Chief Executive Officer, and Alhaji Umar Isa Ajiya as Chief Financial Officer.
Other appointees include Mr. Ledum Mitee, Mr. Musa Tumsa, Mr. Ghali Muhammad, Prof. Mustapha Aliyu, Mr. David Ogbodo, and Ms. Eunice Thomas as Non-Executive Directors. The new team is tasked with overseeing and managing the affairs of the NNPCL.
