PulseNets learned on Saturday that the Nigerian National Petroleum Company Limited (NNPCL) has expressed optimism about increasing crude oil production from 1.7 million barrels per day to an ambitious target of 3 million barrels. This was disclosed during a Stakeholders Engagement Session held in Abuja with journalists covering the National Assembly.
Speaking at the event, Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, told PulseNets that this milestone is achievable with the collaboration of all relevant stakeholders. According to him, the political will needed to realize this goal has already been provided by President Bola Tinubu, who has issued directives to security agencies to address oil theft and pipeline vandalism, which has been a significant setback for the industry.
Soneye further reported that the increased focus on combating these issues has already resulted in a rise in production from 1.4 million to 1.7 million barrels per day. He stated, “3 million barrels of oil production per day is achievable in Nigeria if all the stakeholders work in synergy for that purpose—from the security agencies, both government and privately owned, to oil companies and host communities.”
The NNPCL official emphasized the importance of coordinated efforts in tackling oil theft and vandalism to create an enabling environment for optimal oil production, projecting a potential increase to 2.5 to 3 million barrels per day. He reminded attendees that oil production had once plummeted to 900,000 barrels per day, prompting concerns about Nigeria’s ability to combat oil theft. “At that time, we felt Nigeria was in trouble as far as oil theft was concerned, but the intensity of the war against it has allayed our fears,” he said.
Meanwhile, PulseNets learnt from a presentation by Murtala Muhammad, Deputy Manager of the NNPC Command and Control Centre, that oil theft remains a persistent threat to Nigeria’s economy. Muhammad revealed that over 8,000 illegal refineries and 5,800 illicit oil pipeline connections have been uncovered and dismantled within the past six months. He identified Bayelsa, Rivers, Imo, and Abia as major hotspots for these criminal activities.
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In a related presentation, Professor Taiye Obateru, who spoke to PulseNets, highlighted the vital role of the National Assembly Press Corps in balancing responsible reporting with nation-building. He urged fairness and a commitment to national interest in all stories, especially in relation to oil production and theft.
