TOP STORY: Nigeria may surpass OPEC quota as NNPC targets 2.2m bpd in 2023 | TheCable
Limited says in 2023, Nigeria’s oil production may average 2.2 million barrels per day , including condensate.
“But definitely even if you wish to bring back production tomorrow, you cannot do it because that is not how it works,” he said.Kyari said when investment is made in the industry, it requires “a gestation period of probably 34 months minimum.”However, he added Nigeria is making efforts to restore optimal production.
Kyari added that practical steps taken by the federal government to address issues related to pipeline security have led to a significant recovery in Nigeria’s oil production. “There is a service level agreement between us and the government to supply fuel and then sell it at the price that the policy decision of government has asked us to do. So, it’s not a problem at all for us as a corporate company.“It is value for us. We’re delivering products to the country. We have sufficient cash flow to support this and there is a relationship between us and government.
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