The Nigeria National petroleum Corporation, NNPC, said yesterday, that it was working with its partners to grow the national reserve to 40 billion barrels by 2025 and improve crude oil production to three million barrels per day.

How 100 million Nigerians can be lifted out of poverty(Opens in a new browser tab) The corporation also disclosed plans to attract capital through massive investment across its value chain to drive the ambition. NNPC Group Managing Director, Mele Kyari, made this known in his remarks at the opening of the 2019 Nigeria Annual International Conference and Exhibition, NAICE, in Lagos yesterday. He said:

“NNPC, with our partners, are driving the national aspiration to grow the national reserve to 40 billion barrels by 2025 and improve crude oil production to three million barrels per day. “To achieve this ambition, huge investment is required across the value chain.

We have to attract investments to deploy improved technology in the exploration and production of hydrocarbons from inland as well as the ultra-deep offshore basins. “We have to open up the midstream, complete all critical gas development projects targeted to deliver about three billion scfd to gas market, ensure the close-out of investment decision on NLNG Train 7 and improve domestic utilisation to improve power generation and industrial growth.

“Nigeria is still a net importer of petroleum products due to the current state of our refineries, and the long absence of private investment in the refining sector. We require more investments to revamp and expand our domestic refineries and associated infrastructure to support the growth of the downstream sector and guaranty energy security to the nation.

” He noted that the industry had been significantly challenged by several factors, ranging from lack of adequate fiscal policy, regional security, market volatility, sabotage, to theft, among others. He, however, said lack of data gathering continued to pose serious challenge to the industry, adding that “today, no data provided by the corporation or any other source is seen to be accurate.” Explaining the benefits of digitisation which, among others, will bring about efficiency and improved production and cost effectiveness, he said, “We will, therefore, fix our refineries, help Dangote refinery come on-stream, and also intervene in facilitating modular refineries, and at the end, we stop product importation.”

Which kind of visionless ppl do we have running dis country sef? Other ppl are targeting renewable energy sources and alternative fuel and we are still bent on digging more crude... Jus recently we read a report of Nigeria suffering a crude glute becos buyer no dey and yet we are still bent on looking for more crude and producing more and more crude... Wen will we target self sufficiency in petroleum products? If we put d energy we put in looking for more oil and increasing crude export into getting refineries working at full capacity, dis country for don beta since

Nbote:
Which kind of visionless ppl do we have running dis country sef? Other ppl are targeting renewable energy sources and alternative fuel and we are still bent on digging more crude... Jus recently we read a report of Nigeria suffering a crude glute becos buyer no dey and yet we are still bent on looking for more crude and producing more and more crude... Wen will we target self sufficiency in petroleum products? If we put d energy we put in looking for more oil and increasing crude export into getting refineries working at full capacity, dis country for don beta since

"By fire, by force we must be like our Arab counterparts. OIL! OIL! AND MORE OIL!" Aso Rock Policy Makers

Trying to make sense of our idiotic government will only lead you to an early grave. Sorry in advance. Just try to make it day by day and weather the storm.