Tinubu’s policies is growing oil, gas sector – Mele Kyari

The Group Managing Director and Chief Executive of the Nigerian National Petroleum Limited, Mele Kyari has said, policies and actions of President Bola Tinubu’s administration was significantly growing the oil and gas sector.

Kyari spoke at an emergency meeting of the Joint Committee on Finance with the oil and gas sectors which was presided by Senator Sani Musa on Monday in Abuja.

He reacted to Committee’s request on how the oil and gas sector was reacting in the face economic challenges facing the country.

Kyari said: “Let me just give confirmation that NNPC and the oil and gas industry is very critical in bringing a turnaround in our current economic situation, and we understand the importance of this. We are taking every step that is practical for us to achieve this.

“We have already seen growth in our oil and gas production because of certain actions that Mr. President personally took, and also the very mere truth that we have also declared a war on production activities, and this is painful.

According to him, strenuous effort was been put in place to achieve production of 2 million barrels of oil per day, even as other sectors of the oil and gas sector keep their own beat, though, they may be challenges of funds to executive certain projects.

“The combination of these two has now seen us restoring production in our country, and we believe that, as the Honorable Minister has said, we will have a line of sight to the 2 million barrels production and subsequent growth in production. I will give you some details during the executive session.

“Also, we are affirming that NMBC will keep to its responsibility under the Petroleum Industry Act, which requires that we ensure national energy security when everyone else walks away. And we are confirming also that we have sufficient product supply in our country. There is no cause for any alarm today, and we are guaranteeing this supply.

That’s why the huge challenges that it poses to our resources and, of course, the many multitude of issues that are raising those challenges, including cross-border smuggling and so on, but we are living up to this.”
Earlier in his speech, the Chairman of the joint Committee, Senator Sani Musa commended the NNPL team for their understanding of the economic needs of the country, which he said, they were working hard to achieve the economic agenda.

The meeting was attended by the NNPL management team, the Minister of Budget and National Planning, Alhaji Atiku Bagudu and the Central Bank of Nigeria, Governor who was represented by the Deputy Governor.