Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), declared a state of emergency on oil production aimed at increasing Nigeria’s crude oil production and growing its reserves. He made this announcement during the 23rd edition of the Nigeria Oil and Gas Conference and Exhibition Week in Abuja on Tuesday, July 2, 2024.
Kyari emphasized the urgency of addressing challenges affecting crude oil production, stating, “We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation.”
He highlighted that assets analysis has indicated Nigeria’s capability to produce up to two million barrels of crude oil per day. However, he noted that the main hindrance to achieving this potential is the lack of prompt action from stakeholders.
The NNPC’s move underscores a strategic initiative to overcome production challenges and enhance Nigeria’s crude oil output amid ongoing efforts within the oil and gas sector.