Current production at 1.7 million barrels daily, with hopes of expansion

The Nigerian National Petroleum Company Limited (NNPCL) has expressed confidence that the country can achieve a daily crude oil production of three million barrels. Nigeria’s current output stands at 1.7 million barrels per day, but with collective efforts from various stakeholders, the company believes this ambitious target is within reach.

Optimism Rooted in Government Support

Speaking at a Stakeholders Engagement Session with journalists covering the National Assembly, NNPCL’s Chief Corporate Communications Officer (CCCO), Mr. Olufemi Soneye, emphasized that political support from the government is a key driver of this goal. He credited President Bola Tinubu for taking decisive action to address the major challenges hampering oil production, particularly oil theft and pipeline vandalism.

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Soneye explained that the President’s directives to security agencies have already resulted in a significant increase in production, from a low of 1.4 million barrels per day to the current 1.7 million. With continued commitment from all relevant players, Soneye believes production can be further boosted.

“Three million barrels of oil production per day is achievable in Nigeria if all the stakeholders work in synergy for that purpose,” he said. “From the security agencies, both government and private-owned, to oil companies and host communities, the collective effort is essential.”

Security and Private Sector Collaboration to Drive Growth

NNPCL’s optimism is tied to improved collaboration among security agencies and the involvement of private security firms in tackling oil theft. Soneye highlighted that the country’s production once dropped to as low as 900,000 barrels per day, but renewed efforts from the military and private actors helped reverse this decline.

“At that time, we felt Nigeria was in serious trouble with oil theft. However, the intensity of the war against this menace has allayed our fears,” Soneye said, expressing hope for further production increases.

Crude Oil Theft: A Continuing Threat

Despite the optimistic outlook, the issue of crude oil theft remains a major concern. In a presentation on the economic impact of oil theft, NNPC Deputy Manager of the Command-and-Control Centre, Murtala Muhammad, revealed that over 8,000 illegal refineries and 5,800 illegal oil pipeline connections have been detected and destroyed in the past six months alone.

Muhammad identified key hotspots for oil theft, listing Bayelsa, Rivers, Imo, and Abia states as areas of particular concern.

Nation-Building and Responsible Reporting

In a related presentation, Professor Taiye Obateru spoke on the critical role of responsible journalism in national development. During his lecture titled “Balancing Reporting and Nation Building: The Role of National Assembly Press Corps,” he stressed the importance of fairness and national interest in media coverage, urging journalists to contribute positively to Nigeria’s progress by reporting objectively on issues like oil production and theft.

As Nigeria continues its fight against oil theft and pipeline vandalism, NNPCL’s goal of achieving three million barrels of oil production per day stands as a beacon of hope for the country’s energy sector and economic stability.