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IMPACT OF NNPC STRATEGIC POLICIES ON CRUDE OIL PRODUCTION IN NIGERIA: 2013-2017
Abstract
The study analyzed the impact of strategic polices on crude oil production with reference to Nigerian National
Petroleum Corporation (NNPC) from 2013 to 2017. The study employed both primary and secondary data to
identify the NNPC subsidiaries, ascertain the impact and effect of NNPC strategic policies on crude oil
production using descriptive statistics and OLS regression analytical model. The result shows that NNPC
strategic policies such as focusing on cost reduction and transparency, deploying cutting edge technologies,
reviewing key performance indicators, holistic rehabilitation of refineries, strengthening internal control
mechanism, intensifying exploration efforts, infrastructural development, building local content capabilities
and efficiencies have a significant impact on crude oil production within the years. The study therefore
recommends that strategic management policies should be sustained and fine-tuned to amplify crude oil
production, enhance the production capacity of the corporation to meet up with the ambitious targets of achieving
4 million barrels of crude oil production per day by the year 2020.
