The federal government has set an ambitious target of 2.5 million barrels per day (bpd) oil production for the new management of the Nigerian National Petroleum Company (NNPC) Limited by year-end. The Minister of State for Petroleum Resources (Oil), Mr. Heineken Lokpobiri, stated this yesterday in an interview held on the sidelines of the Oil Technology Conference (OTC) Africa Energy Forum (AEF), themed; “Africa’s Energy Investment Drive Amid Global Transition to Green Minerals and Clean Energy,” in Houston, Texas. The Minister said while President Bola Tinubu gave the new NNPC management a mandate to grow oil production to two million barrels by this year, he has increased the target to 2.5 million bpd. “When the new NNPC management visited me, I increased their oil production target to 2.5 million bpd from the initial two million barrels given to them by the President,” Lokpobiri said. He believed the target set by the President could be met and even surpassed because, during COVID-19, when there were no new investments, oil production grew to 2.5 million bpd.

Sun