Presidency don talk say e dey plan serious restructuring for how Nigerian National Petroleum Company Limited (NNPC) dey manage e asset, as crude oil production don continue to fall below target.
Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, yarn dis one on Monday for Lagos during di Nigerian Association of Petroleum Explorationists (NAPE) conference.
She talk say di government dey look to boost Nigeria oil and gas sector and reach 3 million barrels per day, but that go need better performance from NNPC and other key players.
According to Verheijen, NNPC Exploration & Production Limited (NEPL) dey produce only 220,000 barrels per day, wey be less than 10% of national production. She question whether NNPC get di money and capacity to increase output on its own.
“If NNPC no fit raise production, we go need restructure ownership and bring in operators wey get correct technical know-how, financial power and discipline to move di sector forward,” she talk.
She still break down her “four R’s” agenda — Reserves, Revenues, Reliability, and Responsibility — wey go guide how government go manage energy reform.
Verheijen add say Tinubu government don already unlock over $8 billion investment for gas and oil projects, with plans to reach another $20 billion through new deals and gas infrastructure.
NNPC Chairman, Ahmadu Kida, come talk say di company dey ready to make Nigerians proud and become Africa’s number one energy company within five years.
He talk say, “When dem mention NNPC name, Nigerians suppose feel proud like say Super Eagles just score goal against Brazil.”
