Yar’Adua: FG’ll Raise Nigeria’s Crude Oil Capacity to 4m bpd
From Juliana Taiwo in Abuja, 06.13.2008
President Umaru Musa Yar’Adua has said that his administration will work towards raising Nigeria’s crude oil production capacity from the current two million barrels per day to four million barrels per day by 2010.
Yar'Adua made the disclosure at a press conference at the Elysee Palace, Paris, France yesterday after talks with French President Nicholas Sarkozy.
A statement signed by the Special Adviser to the President on Communications, Mr. Olusegun Adeniyi, quoted Yar'Adua as saying he discussed the rising crude oil prices with the French leader.
Yar'Adua, according to the statement, assured his French counterpart that Nigeria was better disposed to "stable, sustainable and predictable oil prices”, rather than unpredictable prices which, he said, did not help anyone in the long run.
The President said: “Nigeria will work to ensure an oil price acceptable to both users and producers.”
He said he had received a promise from Sarkozy of his government’s support and assistance to Nigeria and other Gulf of Guinea nations for the enhancement of maritime security and surveillance capabilities to further protect the energy resources of the region.
Yar’Adua said that he and Sarkozy also agreed on the need to strengthen bilateral cooperation between the two countries in view of the strategic importance of both countries to the development of the African continent.
Responding to questions from reporters, Yar’Adua said that with the proposed withdrawal of Shell Petroleum Development Company (SPDC) from Ogoniland, the Nigerian National Petroleum Corporation (NNPC) would become the operator of the oil-prospecting licence covering the area, which is currently held by a Shell/NNPC joint venture.
He expressed the belief that with the departure of Shell from the area, the “Ogoni will now calm down.”
On Zimbabwe, the President said that it was not true that African leaders had refused to take a stand on the situation in that country.
"Our position is that the laws of Zimbabwe should be observed, that the run-off elections must be free and fair and the election dispute resolved according to the rule of law," he said.
The President also announced that Nigeria’s former Head of State, General Yakubu Gowon, would head a 30-man ECOWAS team to observe the run-off elections in Zimbabwe.
