Commodities
NNPC Rejects Criticism, Cites Rising Oil and Gas Production
The Nigerian National Petroleum Company Limited (NNPC) has dismissed allegations of poor performance and impropriety against its management under Group Chief Executive Officer Bayo Ojulari.
The company cited rising oil and gas production as evidence of its effectiveness, stating that average crude oil production increased from 1.60 million barrels per day in April 2025 to 1.67 million barrels per day in April 2026, representing a six percent growth.
NNPC also clarified that it does not have the authority to conduct oil licensing rounds or allocate oil blocks, as those responsibilities belong to the Nigerian Upstream Petroleum Regulatory Commission under the Petroleum Industry Act.