The Nigerian National Petroleum Company Limited (NNPCL) has declared a state of emergency on oil production, aiming to boost the country's crude oil output and grow its reserves. This announcement was made by the Group Chief Executive Officer of NNPCL, Mele Kyari, during his keynote address at the 23rd Nigeria Oil and Gas Conference and Exhibition Week in Abuja on Tuesday.

"We have decided to stop the debate. We have declared war on the challenges affecting our crude oil production. War means war. We have the right tools. We know what to fight. We know what we have to do at the level of assets. We have engaged our partners. And we will work together to improve the situation," Kyari stated.

Kyari highlighted that a thorough analysis of Nigeria's oil assets indicates the country can produce two million barrels of crude oil per day without deploying new rigs. However, the main obstacle to achieving this target is the industry's slow response to necessary actions.

He emphasized that the "war" will enable NNPCL and its partners to quickly address and eliminate all identified barriers to efficient production. This includes overcoming delays in procurement processes, which have been a significant challenge within the industry.