Nigeria’s Oil Reserves Reached 27b Barrels

Nigeria’s Oil Reserves Reached 27b Barrels

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has announced that the country’s oil and gas reserves, which had fallen at the height of militant attacks on infrastructures, has increased, Ecofin Agency informed.

Baru said the reserves have again risen to 37b barrels.

At the height of militant attacks on oil infrastructures, the nation’s reserves had plummeted to 28.2b barrels, informed This Day.

NNPC’s Director added that the NNPC has put in place, security management platforms that would allow it to identify and assess risks, develop and supervise the execution of investigations, aggregate and deploy necessary resources to enable a peaceful business environment in the Niger Delta region. He also stated that the corporation was committed to implementing a robust security and stakeholders’ strategy that would sustain peace in the industry’s operational bases.

Still according to him, the NNPC had been able to stabilize the supply and distribution of petroleum products in the country with support from Nigerians and its staff, and commenced the implementation of a 12-key business focus areas to enhance its business performance.


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