NNPC Pushes Back Against Criticism Over Oil Licensing Round Performance
The Nigerian National Petroleum Company Limited (NNPC Ltd) has pushed back against criticism of its Group Chief Executive Officer, Engr. Bayo Ojulari, over the recent oil licensing round.
The company said its crude and gas production have recorded sustained growth under current leadership, with average crude oil output increasing from 1.60 million barrels per day in April 2025 to 1.67 million barrels per day by April 2026, representing a six percent growth.
NNPC Ltd also reported improved gas production, with average output rising from 7,354 million standard cubic feet per day (mmscfd) in April 2025 to 7,729 mmscfd by April 2026, reflecting a five percent increase.
The company emphasized that the licensing round was not within its mandate, as it is a regulatory function vested in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and urged industry commentators to verify information before making public statements.