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Lokpobiri, Minister of Petroleum Resourcess
Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, has declared the current leadership team of the Nigerian National Petroleum Company Limited (NNPC Ltd.) as the strongest management ever assembled.
The remark came during a courtesy visit by the newly appointed Group Chief Executive Officer (GCEO) of NNPC Ltd., Mr. Bashir Bayo Ojulari, on Wednesday.
Ojulari emphasised that his administration would prioritise synergy with key institutions, including the Ministry of Petroleum Resources and the Ministry of Finance, to overcome bureaucratic delays and deliver tangible results.
“We are here with a mindset of partnership. Antagonism benefits no one; collaboration is how we win.”Ojulari said.
In his response, Senator Lokpobiri expressed his confidence in Ojulari’s leadership and that of his executive team, noting their professional track record and personal credibility.
The minister stressed that the time has come to translate that reputation into measurable results, especially in increasing crude oil production and ensuring the sector delivers optimal value to the Nigerian people.
He further assured Ojulari of his ministry’s full support in creating an enabling environment for the company to thrive, emphasising the need for strategic alignment across all levels.
Recall that President Bola Tinubu appointed Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as non-executive Chairman of the state-owned Nigerian National Petroleum Company (NNPC) on the 2nd of April, following the dismissal of the previous company board.
Tinubu also handed out an immediate action plan to the new board: to conduct a strategic portfolio review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives, the statement said. Nigeria is Africa’s biggest oil producer with an output of 1.8 million barrels per day, and the administration now envisions increasing the investment to $30 billion by 2027 and $60 billion by 2030.
The administration Is targeting oil production of two million barrels daily by 2027 and three million by 2030. Concurrently, the government wants gas production jacked to 8 billion cubic feet daily by 2027 and 10 billion cubic feet by 2030, the Presidency said. Furthermore, President Tinubu expects the new board to elevate NNPC’s share of crude oil refining output to 200,000 barrels by 2027 and reach 500,000 by 2030. (The Guardian)
