Nigeria Plans Major NNPC Asset Restructuring Amid Oil Production Concerns

Nigeria is set to restructure NNPC's asset ownership to combat low oil production levels, potentially affecting the nation's revenue targets. President's advisor, Olu Verheijen, highlighted the need for a fundamental shift in managing Nigeria's petroleum resources.

The restructuring may involve divesting underperforming assets, transferring ownership of oil blocks, and attracting new investors with proven track records. This move aims to enhance NNPC's operational and financial capabilities to achieve the ambitious target of three million barrels per day production.