Group Managing Director of the Nigerian National Petroleum Corporation NNPC, Dr Maikanti Baru says there is a significant increase in the country’s oil production rate.
Addressing Journalists after a closed door meeting with President Muhammadu Buhari on Tuesday, the Group Managing Director said he was not aware of any plan to increase the price of petroleum products.
Dr Baru, said he was in the Presidential Villa to brief the Nigerian leader on the activities of NNPC and its subsidiaries.
He said oil production rate, which had dropped in recent pass, has now risen to two million barrels as at Tuesday May 2.
“The major thing we have achieved of recent is the reinstatement of the production, especially that of crude oil, which has now gone back to two million barrels as at today. Before now, we went as low as 1.5 million barrels per day until recently when it got back to the present position,” he stated.
Giving reasons for the decline witnessed recently, the GMD said it took time to repair the pipelines that were vandalised before government interfaced with militants in the Niger –Delta.
“Once you have destruction, you have to take time to repair the pipelines. We still have some pipelines that have been disrupted and we have to bring on board, like the Focados oil terminal export pipeline, which has the capacity of giving us about 350,000 barrels per day, which we are still repairing,” the NNPC boss said.
Dr Baru said President Buhari expressed delight at the way operations were going on at the NNPC and charged the Corporation to continue to do its best for the nation.
He also said President Buhari directed the NNPC to draw his attention to any challenge it might face as it carries out its responsibilities.