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Nigeria targets 3mbpd oil production

The Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer, Malam Mele Kyari yesterday disclosed that the country plans to raise crude oil production which now hovers around 1.6million barrels per day (bpd) to 3million bpd.

He added that the plan included increasing the nation's refining capacity to over 1mbpd.

According to him, it included expanding NNPCL Retail outlets to over 1,500 stations across sub-Saharan Africa.

Kyari said in the period in sight, the state - owned company will grow its renewable energy portfolio and optimize payment of dividends to shareholders.

The NNPCL boss spoke during the 2024 Women in Energy, Oil and Gas (WEOG) Leadership Summit in Abuja which had: "Closing Energy Gaps in Nigeria by Investing in Women" as theme.

He said: "Looking ahead to the next decade, we envision a Nigeria propelled by the oil and gas industry; monetization of our vast 203 Tcf (trillion cubic feet) gas resources, increasing crude oil production to 3 mbpd, raising domestic refining capacity to over 1 mbpd, expanding our retail network to over 1,500 stations across sub-Saharan Africa, growing our renewable energy portfolio, and optimizing dividend pay-outs to shareholders."

Kyari said NNPCL’s goals are audacious and accomplishing them requires a multifaceted approach.

One of the most powerful strategies at the company’s disposal is investing in women.

According to him, women constitute a substantial portion of Nigeria's population and workforce, yet they remain underrepresented in the energy sector.

Kyari said: “As at Q4 2023, women represented 18.6per cent of our total workforce and 23.1per cent of our leadership.

"This is largely attributed to the low level of participation in Science, Technology, Engineering and Mathematics fields which is the major channel for our work force in the oil and gas industry.

"Studies have also shown that at the middle of the technical talent pipeline (which is middle to senior management levels), there is lagging progress for women which is greatly impacted by the degree of flexibility of work."

He said at NNPC, the company has evaluated the challenges faced by women across different levels of our workforce and taken additional steps to address those.

He added that NNPCL focuses on several key strategic initiatives.

According to him, from coaching and mentoring to ensure our managers are effective leaders; to unlocking the full potential of flexible work, Kyari said by empowering women and providing them with equal opportunities, NNPCL can unlock immense potential and drive meaningful change across the energy landscape.

He said: "We are committed to fostering a culture of inclusivity and empowerment, where women have equal access to opportunities for growth, advancement, and leadership.

"Through initiatives such as mentorship programs and leadership training, we are actively working to build a more diverse and resilient workforce.

"Investing in women means more than just increasing gender diversity; it means recognizing and harnessing the unique talents, perspectives, and capabilities that women bring to the table.

"From engineering and technology to leadership and management, women have proven time and again their ability to excel in every aspect of the energy sector."

Also speaking, WEOG National President, Dr. Oladunni Owo, said the association aligned with the International Women's Day to celebrate the women in energy.

She recalled that March 8, 1908, women workers marched through New York City' protesting child labor and working conditions demanding women's suffrage.

According to her, beginning in 1910, March 8 became annually observed as International Women's Day.

Owo said the IWD amalgamated into International Women’s month and concluded as a period when women are recognized for their achievements without regard to divisions, whether national, ethnic, linguistic, cultural, economic or political. IWD has assumed a new global dimension for women in developed and developing countries alike.

On the significance, she said in 2015 during a IWD celebration in the UK, East London – Folasade Bright, it was a mixed race congregation of professional women from different races and industries.

She said: "We signed a DEI Charter and was charged to ensure DEI happens in our different industries. Hence annual IWD celebration was on the charter of WEOG right from inception and formative days.

"For WEOG, the IWD goes beyond just celebration to transformation, we take every theme and hashtag very serious, infusing same into our Yearly theme, industry and national focus at large. I will like to admonish every organisation and individual represented here to make IWD month a month to review your commitment to DEI, your commitment to maximising the entirety of your human resources , tap into the untapped reserve as a strategy for progress and sustainability."