Dr. Ibe Kachikwu, Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), has said that Nigeria would increase crude oil production to meet local demand and not to essentially sell it in the international market.
Kachikwu explained that the oil output would remain unchanged from the January level of 2.2 million barrels a day, but export would be reduced to focus on local refining and supply of petroleum products to the Nigerian market, which requires at least 500,000 barrels a day.
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