The Nigerian National Petroleum Company Limited (NNPCL) has expressed optimism that Nigeria can increase its daily crude oil production to 3 million barrels, up from the current 1.7 million barrels.
This was revealed by the Chief Corporate Communications Officer of NNPCL, Mr. Olufemi Soneye, during a Stakeholders Engagement Session with journalists covering the National Assembly. He credited the potential for this significant boost to the political will of President Bola Tinubu, who has mandated security agencies to intensify efforts against oil theft and pipeline vandalism.
Soneye noted that these measures had already led to a rise in daily oil production from 1.4 million to 1.7 million barrels. He emphasized that achieving the 3 million barrels per day target would require collaboration among all stakeholders, including government bodies, private security agencies, oil companies, and host communities.
“Three million barrels of oil production per day is attainable in Nigeria if all stakeholders work together,” Soneye said. He added that with continued efforts to curb oil theft and vandalism, production levels could reach between 2.5 and 3 million barrels per day.
Soneye also pointed out that oil production had once dropped to 900,000 barrels per day, underscoring the critical role of private security firms and enhanced military action in reversing the downward trend.
“At that point, we feared for Nigeria’s oil industry, but with the intensified fight against theft, our situation has improved,” he added.
In the session, Murtala Muhammad, Deputy Manager at NNPC’s Command and Control Centre, provided a report on the persistent issue of crude oil theft. He revealed that over the past six months, 8,000 illegal refineries and 5,800 illegal pipeline connections had been identified and destroyed, with Bayelsa, Rivers, Imo, and Abia states marked as the primary areas for such illegal activities.
In a separate presentation, Professor Taiye Obateru spoke on “Balancing Reporting and Nation Building: The Role of the National Assembly Press Corps,” highlighting the need for fairness and national interest in journalistic practices.
Comments