The Nigerian National Petroleum Company Limited (NNPCL) has announced its ambitious target to boost crude oil production from the current 1.7 million barrels per day (bpd) to 3 million bpd.
This declaration was made by the Chief Corporate Communications Officer, Mr. Olufemi Soneye, during a Stakeholders Engagement Session held for journalists covering the National Assembly on Saturday.
Soneye attributed this potential increase to the political will demonstrated by President Bola Tinubu, who has directed relevant security agencies to intensify efforts against oil theft and pipeline vandalism.
These initiatives have already led to a notable increase in daily oil production, which has risen from 1.4 million bpd to 1.7 million bpd in recent months.
“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, highlighting the necessity for a collaborative effort to create an enabling environment conducive to optimal production levels.
The NNPCL executive further emphasized the importance of addressing the rampant issues of oil theft and vandalism, noting that at one point, production had dramatically decreased to 900,000 bpd.
“At that time, we felt Nigeria was in trouble regarding oil theft, but the intensified fight against it has alleviated our concerns,” he said, underscoring the critical role played by private security agencies and renewed military efforts.
During the session, Murtala Muhammad, the Deputy Manager at the NNPC Command and Control Centre, delivered a PowerPoint presentation on the ongoing challenges of crude oil theft and its economic ramifications for the country.
BHe reported the detection and destruction of over 8,000 illegal refineries and 5,800 unauthorized pipeline connections in the past six months. Key regions identified as hotspots for these activities include Bayelsa, Rivers, Imo, and Abia states.
In a related discourse, Professor Taiye Obateru addressed the importance of journalistic integrity during his presentation on “Balancing Reporting and Nation Building: The Role of the National Assembly Press Corps.” He emphasized that fairness and a focus on national interest should guide all journalistic endeavors.
The NNPCL’s commitment to increasing oil production reflects its broader strategy to strengthen Nigeria’s economy, with hopes that a unified approach involving all stakeholders will pave the way for sustainable growth in the oil sector.