The Nigerian National Petroleum Company Limited (NNPCL) has expressed optimism about increasing the country’s crude oil production from 1.7 million barrels per day to 3 million barrels. Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, made this announcement during a stakeholders’ engagement session with journalists covering the National Assembly.
According to Soneye, the potential for increased production can be attributed to President Bola Tinubu’s political will to combat oil theft and pipeline vandalism. This effort has already led to a rise in daily oil production from 1.4 million to 1.7 million barrels. Soneye emphasized that achieving 3 million barrels per day is possible if all stakeholders work together, including government and private security agencies, oil companies, and host communities.
“Three million barrels of oil production per day is achievable in Nigeria if all stakeholders work in synergy—from government and private security agencies to oil companies and host communities,” Soneye stated. He also highlighted the importance of collaborative efforts in combating oil theft and pipeline vandalism to create an enabling environment for optimal oil production levels.
NNPCL’s Deputy Manager, Murtala Muhammad, presented a report on crude oil theft, revealing that over 8,000 illegal refineries and 5,800 illegal oil pipeline connections had been detected and destroyed in the last six months. The hotspots for these illegal activities were identified as Bayelsa, Rivers, Imo, and Abia states.
In a related presentation, Professor Taiye Obateru stressed the importance of fairness and national interest in journalistic endeavors, particularly in reporting on sensitive issues like oil production.
Historically, Nigeria’s crude oil production has fluctuated, with an all-time high of 2,496,000 barrels per day in November 2005 and a record low of 1,015,000 barrels per day in September 2022.
Currently, Nigeria’s crude oil production stands at 1,352 barrels per day, with projections indicating a potential increase to 1,310 barrels per day by the end of the quarter.
