Nigeria’s National Petroleum Corporation (NNPC) has declared a state of emergency on the country’s crude oil production. The announcement, made by NNPC Group Chief Executive Mele Kyari on Tuesday, comes amidst a worrying decline in crude oil production
Despite recent progress in combating oil theft, production figures have continued to fall short of expectations. Kyari emphasized the urgency of the situation, using strong language to describe the fight ahead.
“We have decided to stop the debate,” he said. “We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight.”
According to Kyari, the move is aimed at increasing Nigeria’s crude oil production and reserves. Nigeria’s economic well-being is heavily reliant on its oil output.
Kyari stated that a detailed analysis of the country’s oil assets shows that Nigeria can produce up to two million barrels of crude oil per day without deploying new rigs, but the major obstacle to achieving this goal is the inability of industry players to act quickly.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
