NNPC Clarifies Role in Oil Licensing Rounds Amid Performance Scrutiny
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has clarified its role in oil licensing rounds and allocation, stating that it does not have regulatory or allocation powers.
This clarification came after recent media reports questioned NNPC Ltd.'s performance under its Group Chief Executive Officer, Bayo Ojulari.
The company's Chief Corporate Communications Officer, Andy Odeh, said the Petroleum Industry Act (PIA) 2021 assigns responsibility for oil licensing rounds and allocation to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Odeh stated that NNPC Ltd. has operated as a commercial entity since its incorporation and does not have regulatory or oil-block allocation powers.
The company highlighted its production figures, stating that average crude oil output, including condensate, stood at 1.60 million barrels per day (mbpd) in April 2025 and increased to approximately 1.67 million barrels per day by April 2026, representing a 6% growth.