The Group Chief Government Officer of NNPC Ltd, Bashir Bayo Ojulari, has informed President Bola Tinubu that the corporate is concentrating on 1.9 million barrels per day of crude oil manufacturing by the top of the yr.
Ojulari’s goal was contained in a press release by the Particular Adviser to the President (Data & Technique), Bayo Onanuga, on Might 22, 2025, through the inauguration of the NNPC Restricted Board on the State Home on Thursday in Abuja.
Ojulari was quoted as saying the NNPCL group had already met with trade stakeholders to evaluate operations and enterprise relationships, and that crude oil manufacturing is on track to hit 1.9 million barrels per day.
He burdened, “Manufacturing had risen to 1.7 million barrels in two months from 1.5 million barrels, with the goal of reaching 1.9 million barrels by year-end.”
Turnaround Upkeep
In keeping with the assertion, Ojulari famous that administration had began optimizing varied elements of the corporate, together with the turnaround upkeep of the refineries.
“We are going to promise what we are able to ship, and we’ll ship on our promise,” he added.
- Ojulari highlighted that the President’s financial reform had despatched the suitable indicators to draw international direct investments.
“We have now had a number of conferences, and we have now set a path with the mandate that you’ve given us. We have now commenced the journey with bi-weekly conferences with stakeholders,” he mentioned.
- He assured the federal government that NNPC Ltd would function as a enterprise.
- On his half, the Minister of State for Petroleum, Heineken Lokpobiri, informed the President that the NNPCL group is able to delivering.
Extra Insights
In his remarks, the President mentioned he chosen the board members painstakingly to make sure high quality management.
- He urged the brand new NNPC board to consolidate the features of the continued financial reforms, which, based on him, have attracted commendations for the resilience and competitiveness of the Nigerian financial system.
“Once I began looking, it took some time to provide you with the sort of character that you simply characterize. You characterize one of the best within the trade, and I’ve set targets for you.
“You might have the fame, resourcefulness, and expertise to assist the nation. It’s a name to obligation for you.
“I consider you’re among the many finest the trade can supply,” he mentioned.
- President Tinubu mentioned the continued financial reforms have yielded outcomes, with native and worldwide acknowledgments.
“Nigeria has come of age. It’s now extra aggressive and turning the nook, and along with your extremely revered group, I can calm down and attend to different points. Thanks for accepting the chance to serve your nation and our pricey nation,” the President said.
- President Tinubu informed the Board that the volatility on the planet’s financial system requires trying inward for options.
What it’s best to know
On April 18, 2025, Bashir Ojulari pledged to draw a staggering $60 billion in investments into Nigeria’s oil and gasoline sector by 2030, with a near-term milestone of $30 billion by 2027.
This bold goal kinds a part of a sweeping transformation agenda aimed toward scaling up crude oil manufacturing and enhancing the power panorama of Africa’s largest financial system.
The Information Company of Nigeria (NAN) experiences that Ojulari made this dedication throughout a city corridor assembly with NNPC Ltd. employees in Abuja, shortly after assuming workplace.
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