The Nigerian National Petroleum Company Limited (NNPCL) says political will in the government of the day is reason why Nigeria’s oil output has hit 1.7mbpd from almost one million bpd to recent 1.3mbpd.
The NNPC said it is thus targeting a significant increase in crude oil production, aiming to boost output from the current 1.7 million barrels per day (bpd) to three million bpd, according to the company’s Chief Corporate Communications Officer, Olufemi Soneye.
Speaking during a stakeholders’ engagement session with journalists covering the National Assembly on Saturday, Soneye credited the rise in production to the political will demonstrated by President Bola Tinubu, who has directed security agencies to intensify efforts against oil theft and pipeline vandalism.
“Three million barrels of oil per day is achievable in Nigeria if all stakeholders work together—from government and private security agencies to oil companies and host communities,” Soneye said. He noted that daily oil production has already increased from 1.4 million to 1.7 million bpd due to these coordinated efforts.
Soneye underscored that achieving the ambitious target will require continuous collaboration to create an environment conducive to boosting output.
“With joint efforts against oil theft and vandalism, we can create the conditions for optimal production levels of between 2.5 to 3 million barrels per day,” he added.
The NNPC spokesperson highlighted how oil production had once fallen to a precarious 900,000 barrels per day, emphasizing the importance of private security and military efforts in stabilizing output.
“At that time, we felt Nigeria was in serious trouble regarding oil theft, but the strengthened campaign has relieved those concerns,” Soneye remarked.
During the session, Murtala Muhammad, Deputy Manager at NNPC’s Command and Control Centre, presented a report detailing the economic toll of crude oil theft.
Over the past six months, authorities have detected and dismantled more than 8,000 illegal refineries and 5,800 unauthorized pipeline connections. Bayelsa, Rivers, Imo, and Abia states identified as primary hotspots for these criminal operations.
In a separate presentation titled “Balancing Reporting and Nation Building: The Role of the National Assembly Press Corps,” Professor Taiye Obateru stressed the need for fairness and a focus on national interests in journalistic practices, particularly in reporting on issues that could impact Nigeria’s economic recovery and development.
NNPCL’s push to boost production comes at a critical time as the country grapples with revenue shortfalls and seeks to strengthen its position in the global oil market.
The success of the government’s anti-theft measures and increased collaboration across sectors could prove pivotal in reaching the ambitious target of three million barrels per day.
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