Mele Kyari, the group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), says Nigeria will meet the 1.8 million barrels quota assigned by Organization of Petroleum Exporting Countries (OPEC).
Kyari said this on Friday during the official unveiling of the new NNPCL in Abuja.
The group CEO said the country has crossed producing 1.6 million barrels of oil per day and is close to achieving the assigned quota level.
The group CEO said the country has crossed producing 1.6 million barrels of oil per day and is close to achieving the assigned OPEC quota level.
“As of yesterday, we have crossed 1.6 million barrels per day, this is not rocket science. We have a line of sight to recover the quota level of 1.8 million barrels per day,” he said.
“I know that it is not far away, probably two to three months maximum, but we will be there and that will bring back partners to invest, return the confidence of our investors and ultimately bring back growth.”
Also speaking at the event, Timipre Sylva, the minister of state for petroleum resources of Nigeria said the reason for the NNPC transition is to encourage growth and attract investors.
“Let us keep in mind the purpose of this transformation is not to stifle the private sector in the Nigerian oil and gas industry.
“It is to encourage growth, attract investments, and maximise the dividends to the investors,” he said.
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