NNPCL Aims for 2 Million Barrels of Crude Oil Per Day in 2024
The Nigerian National Petroleum Company Ltd (NNPCL) has announced a production target of two million barrels of crude oil per day for the year 2024. This declaration was made by Mr. Pius Akinyelure, the Chairman of the NNPCL Board, subsequent to the formal inauguration of the board and management team at the State House in Abuja by President Bola Tinubu.
During his address, Mr. Akinyelure underscored the necessity for a comprehensive restructuring of the national security framework to counter the substantial losses incurred from oil theft and pipeline vandalism. He underscored the company’s dedication to revitalizing the oil and gas industry in Nigeria to sustain the economy and foster prosperity for Nigerians.
The issue of oil theft and pipeline vandalism has posed a formidable challenge to the country’s oil production. The Federal Government disclosed that over N4.3 trillion worth of crude oil was pilfered in 7,143 pipeline vandalism incidents within a span of five years, significantly impacting the country’s daily production output.
Dr. Eunice Thomas, the sole female member on the board, articulated her commitment to enhancing productivity, bolstering the economy, and preserving the environment. She also acknowledged the challenges and expectations outlined by President Bola Tinubu for the board, and affirmed her concurrence with the management of the NNPCL in pursuit of these objectives.
The inaugurated board members include Umar Ajiya as Chief Financial Officer, along with Ledum Mitee, Mr. Musa Tumsa, and Mr. Ghali Muhammad as Non-Executive Directors, in addition to Prof. Mustapha Aliyu, Mr. David Ogbodo, and Ms. Eunice Thomas as Non-Executive Directors.
The efforts to elevate crude oil production to two million barrels per day are pivotal for Nigeria’s economic viability and will necessitate considerable enhancements in security measures to combat oil theft and vandalism. The achievement of this ambitious target by the NNPCL will not only redound to the benefit of the company, but also contribute to the overarching growth and development of the nation.
