Senator Heineken Lokpobiri figures as the Oil Minister has revealed the NNPC Ltd. leadership team to be an all-time best managerial group.
The statement emerged when Mr Bashir Bayo Ojulari took office as the NNPC Ltd Group Chief Executive Officer (GCEO) during his Wednesday visit.
Ojulari explained that his government will use partnership between the Ministry of Petroleum Resources and Ministry of Finance as key focus to combine forces against bureaucratic slowdowns while achieving concrete progress.
The team comes today to establish partnerships. Partnerships remain our only path to success because animosity never yields beneficial results according to Ojulari.
The Senator demonstrated support for Mr Ojulari both as a leader and with his executive team because of their proven competency and solid personal reputation.
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The federal government declared it is time to transform public opinion about success in the petroleum industry by developing quantitative progress markers for oil production along with maximizing industry value for Nigerian people.
Ojulari received a pledge from the minister to build an optimal business environment for the company along with strategic collaboration within all organizational levels.
A month after President Bola Tinubu selected Bayo Ojulari as Group CEO alongside Ahmadu Musa Kida as non-executive Chairman of the Nigerian National Petroleum Company (NNPC), he ordered the replacement of the previous board members on April 2.
As part of a time-sensitive task the new board received from Tinubu they were required to review NNPC-operated and Joint Venture Assets to guarantee their alignment with value maximisation goals according to official announcement. Nigeria produces the most oil across Africa at 1.8 million barrels per day and the government plans to increase investments to $30 billion during 2027 and $60 billion before 2030.
The nation has established two production goals for petroleum oil reaching two million barrels per day in 2027 and three million barrels per day in 2030. According to the Presidency the government aims to boost gas output to 8 billion cubic feet daily by 2027 and further elevate it to 10 billion cubic feet by 2030. The new board must raise NNPC’s crude oil refining capacity to 200,000 barrels during 2027 while targeting 500,000 barrels in 2030 according to President Tinubu’s expectations.
