NNPCL CEO Stresses Nigeria’s Oil Potential, Calls for Strategic Action to Boost Output

Image of NNPC Tower, Abuja

ABUJA — The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, has acknowledged that Nigeria’s crude oil production remains below its full potential, despite the country’s vast hydrocarbon reserves.

Speaking at the 4th PENGASSAN Energy and Labour Summit (PEALS) in Abuja, Ojulari emphasized the need for a strategic, coordinated approach to maximize production. He urged stakeholders to adopt a mindset where “every barrel counts, every molecule of gas counts,” noting that unlocking Nigeria’s oil and gas potential requires more than singular initiatives—it demands smart actions across the entire value chain.

Key Focus Areas for Boosting Production

Ojulari highlighted several priorities for NNPCL to enhance output:

• Field Development: Expanding the capacity of existing and new oil and gas fields.

• Security in the Niger Delta: Reducing disruptions caused by vandalism, theft, and militancy.

• Leakage Reduction: Minimizing operational inefficiencies to preserve output.

• Unlocking Stranded Assets: Bringing untapped and idle reserves into production.

He stressed that these measures, when implemented cohesively, would drive sustainable growth and operational efficiency across the sector.

Resilience as a National Responsibility

Ojulari further underscored the importance of resilience in the oil and gas industry, describing it as a national responsibility. According to him, resilience should be built on three pillars:

1. Operational Excellence – Ensuring best practices in exploration, production, and asset management.

2. Fiscal Discipline – Maintaining financial prudence to optimize revenues and investments.

3. Compliance with ESG Principles – Upholding environmental, social, and governance standards to secure long-term sustainability.

Worker Safety Highlighted by PENGASSAN

Also speaking at the summit, PENGASSAN President Comrade Festus Osifo emphasized the critical importance of worker safety in Nigeria’s oil and gas sector. He condemned unsafe practices at oil installations, stressing that resilience should never compromise human life.

“The true measure of stewardship is ensuring every worker returns home safely,” Osifo stated, highlighting the need for strict adherence to safety protocols and best practices across all operations.

Outlook for Nigeria’s Oil Sector

Ojulari’s remarks signal a renewed focus on strategic, value-chain-driven initiatives aimed at boosting production and revenue. Combined with PENGASSAN’s emphasis on safety, the message is clear: Nigeria’s oil and gas sector must grow efficiently, responsibly, and sustainably, balancing production goals with human and environmental considerations.

As Nigeria works to unlock its full hydrocarbon potential, coordinated action across government agencies, operators, and workers will be key to achieving increased output, energy security, and economic benefits for the nation.