Mallam Mele Kyari, the Group CEO of NNPC Limited, has called for doubling Nigeria’s oil production capacity to two million barrels per day, citing the country’s existing assets and potential. Speaking at the 2024 Nigerian Oil Gas Energy Week in Abuja, Kyari highlighted the need for minimal effort to achieve this target despite current production standing at 1.46 million barrels per day.
Kyari declared a “war” on low production levels and emphasized the readiness of NNPC to lead this effort while collaborating with partners. He criticized operational inefficiencies and high costs within the industry, pledging to cap production expenses to enhance profitability.
In support, Abdulrazaq Isa of the Independent Petroleum Producers Group outlined critical priorities, including finalizing divestment transactions and optimizing deepwater development agreements with major oil companies.
Ministers Heineken Lokpobiri and Ekperikpe Ekpo affirmed the government’s commitment to increasing oil and gas production, essential for meeting domestic demands and boosting Nigeria’s economic growth through expanded export opportunities.
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Reporting by Babatunde Akinsola in Lagos, Nigeria.
