Expert Demands Complete Government Exit from Nigeria’s Oil Sector!
Kelvin Emmanuel, CEO of Dairy Hills and energy sector analyst, has proposed that the Nigerian government should divest from refinery operations and transfer management to private enterprises. In an ARISE NEWS interview, Emmanuel suggested the government should divest its refining assets and redirect its focus toward upstream oil production activities. Regarding oil production targets, Emmanuel assessed that the government's 2025 goal of 2 million barrels per day may be unrealistic, projecting actual production to reach between 1.7 and 1.75 million barrels daily. Emmanuel emphasized that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) should prioritize increasing crude oil output to meet domestic refining requirements before approving export permits. This approach would ensure adequate supply to local refineries, which have a combined capacity of 864,500 barrels per day. The energy expert outlined a vision for Nigeria to transition from importing petroleum products […]