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Nigerian government plan to increase oil production

Nigeria implements strict plans to increase its oil production.

In a report, China’s CGTN television network investigated the state of the oil industry in Nigeria, which is the most oil-rich country in Africa, but in the last two years, it has not even been able to meet the OPEC quota. to produce Nigeria’s oil facilities are facing structural problems. 

In the past three years, the Nigerian government has allocated more resources to increase the country’s oil production, but its efforts have resulted in a small increase in production in the country. The head of the National Oil Company of this country says that this situation is enough and everything must change.

Milli Kayari, head of the National Oil Company of Nigeria, said in this regard: We have made decisions about 80% of the companies that produce oil and gas in this country to stop discussing with them. We have declared war on them. War means war! We have the right forces, we know what we have to fight and we know what we have to do in this country and what we have to do in terms of assets and engagement with our partners. Any partner who does not do what is required must go. We set a specific schedule with our partners. Everyone should present their drilling program in such a way that we can coordinate the programs and build the platforms within 3 to 5 years and make sure that the production process will increase.

The Nigerian government emphasizes that it is determined in its plans to increase production in order to increase revenues and boost the country’s economic situation. 

Moda Yusuf, a Nigerian economist, says: The oil industry is the blood in the body and the lifeblood of the country’s economy. Almost 90% of our country’s foreign exchange income is obtained in this way. If the situation of this industry is not fixed, the country’s economic problems cannot be solved. We should see problems such as oil theft, vandalism and low production in one format. These are serious problems. To face these challenges, we have to do basic things. 

One of Nigeria’s biggest concerns for this industry is oil theft. The Nigerian government says that despite the huge resources that the government has spent to deal with this problem, the problem still persists. In the last week of June alone, the National Petroleum Corporation of Nigeria recorded 256 cases of oil theft in several locations in the oil-rich Niger Delta region. 

Alex Nyin, a Nigerian energy expert, also said: There are professional things to increase production that we do not do. We have to be careful in managing our reservoir. We need to be able to go to existing oil wells and make proper assessments. These works do not cost much. 
Executives at the National Oil Company of Nigeria say they are confident that the new emergency measures could increase oil production in Nigeria, but many observers are more cautious. In the past, similar measures have been implemented and finished, but the challenges still remain.


© Webangah News Hub has translated this news from the source of Young Journalists Club
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