The Nigerian National Petroleum Company Limited (NNPCL) has expressed confidence in its ability to increase crude oil production from the current 1.7 million barrels per day (bpd) to 3 million bpd.
This goal, according to the NNPCL, is achievable with the collective efforts of key stakeholders.
Mr. Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, disclosed this during a Stakeholders Engagement Session with journalists covering the National Assembly on Saturday.
He attributed the optimism to the political will demonstrated by President Bola Tinubu, who has directed security agencies to intensify efforts to combat oil theft and pipeline vandalism.
Soneye highlighted that these actions have already contributed to a rise in oil production, which has increased from 1.4 million to 1.7 million barrels per day. “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 further noted that with a coordinated fight against oil theft and vandalism, an enabling environment could be created to support optimal production levels of 2.5 to 3 million bpd. Soneye recalled a period when oil production dropped to 900,000 bpd, emphasising the importance of private security agencies and the military in reversing the decline.
“At that time, we felt Nigeria was in serious trouble regarding oil theft, but the intensified fight has alleviated our concerns,” he added.
During the session, Murtala Muhammad, Deputy Manager at the NNPC Command and Control Centre, presented a report on crude oil theft and its economic impact. He revealed that over 8,000 illegal refineries and 5,800 illegal pipeline connections had been identified and dismantled in the last six months. Bayelsa, Rivers, Imo, and Abia states were identified as hotspots for these criminal activities.
In a related presentation, Professor Taiye Obateru, speaking on “Balancing Reporting and Nation Building: The Role of the National Assembly Press Corps,” urged journalists to ensure fairness and promote national interest in their reporting.
