Nigerian National Petroleum Corporation (NNPC)
The Nigerian National Petroleum Corporation (NNPC), now NNPC Limited, is the country's state-owned oil and gas company, established in 1977. Headquartered in Abuja, it manages the nation’s hydrocarbon resources, operating across the petroleum value chain.
History and Evolution: Formed to oversee Nigeria’s oil wealth, NNPC transitioned into a commercial entity under the Petroleum Industry Act (PIA) 2021, becoming NNPC Limited to enhance efficiency and profitability.
Operations: NNPC engages in exploration, production, refining, and marketing. It operates four refineries (currently under rehabilitation) and oversees joint ventures with multinational oil companies.
Leadership: Led by Group CEO Mele Kyari, NNPC focuses on transparency and global competitiveness.
Challenges and Reforms: Issues include pipeline vandalism and oil theft. Reforms via the PIA aim to boost production, with NNPC targeting 2 million barrels per day by 2025.
