ABUJA — The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bayo Ojulari, has admitted that Nigeria’s crude oil production remains below its true capacity despite vast reserves.
Speaking at the 4th PENGASSAN Energy and Labour Summit (PEALS) in Abuja, Ojulari urged a change of strategy, stressing that “every barrel counts, every molecule of gas counts.” He outlined NNPCL’s focus on field development, improving security in the Niger Delta, reducing leakages, and unlocking stranded assets. According to him, boosting output will require smart, coordinated actions across the value chain rather than one big move.
Ojulari further highlighted the importance of resilience, describing it as a “national responsibility” driven by operational excellence, fiscal discipline, and compliance with environmental, social, and governance (ESG) principles.
Also speaking at the event, PENGASSAN President, Comrade Festus Osifo, emphasized worker safety in the oil and gas sector. He condemned unsafe practices at oil installations, warning that resilience should never come at the expense of human lives. “The true measure of stewardship is ensuring every worker returns home safely,” he said.