TRIBUNE NG
The Nigerian National Petroleum Company Ltd. (NNPCL) has called for an overhaul of the nation’s security architecture to enable the company to attain the two million barrels per day production threshold in 2024.
The nation currently produces 1.67 barrels of oil and condensates, as against the two million barrels per day target set by the Organisation of Petroleum Exporting Countries (OPEC).
The non-executive chairman of the board, Pius Akinyelure, stated this after it was inaugurated by President Bola Tinubu at the presidential villa in Abuja on Monday, telling correspondents that “our commitment is to produce at a rate of two million barrels per day, anytime from next year.”
He, however, lamented that the target could not be realised without first overhauling the security architecture of the country to address pipeline vandalism and other mechanisms deployed in oil theft.
Akinyelure stated: “It is not an easy task, but we know we have the challenge of oil theft and the vandalization of our pipelines.
“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 build up our cash flow. And we will become a better nation.”
The board chairman said that the company would implement key performance indicators of the oil industry to enable the country to “become number one in Africa and probably compete with leading oil and gas companies around the world.”
Speaking to correspondents after the inauguration, the only female member on the NNPCL board, Dr Eunice Thomas (Akwa Ibom), assured that they would work together to increase productivity, improve the economy, and create sustainable green energy.
She thanked President Tinubu for giving her the opportunity, noting that the board members are aware of his expectations, which she said they are challenged to meet.
