The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has expressed concern that Nigeria’s crude oil production remains far below its true potential despite the country’s abundant reserves.
Ojulari, who spoke at the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit in Abuja, stressed the need for incremental and coordinated efforts to boost production and stabilize the oil sector.
He outlined priority areas including improving security around oil facilities, reducing leakages across the value chain, unlocking stranded assets, and promoting environmental, social, and governance (ESG) principles to align Nigeria’s operations with global energy standards.
Ojulari emphasized that tackling oil theft and pipeline vandalism was central to achieving these goals, noting that the NNPCL is already working with relevant stakeholders to implement stronger security frameworks in host communities.
On his part, PENGASSAN President Festus Osifo urged industry stakeholders not to sacrifice worker safety in the pursuit of production targets. He called for safer working conditions, stressing that resilience in the oil sector must not come at the expense of the lives and welfare of employees.
The summit, which brought together policymakers, industry leaders, and labour representatives, underscored the importance of collaboration to reposition Nigeria’s oil and gas sector as a more reliable contributor to the national economy.
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