The Nigerian National Petroleum Company Limited (NNPCL) has expressed optimism about increasing crude oil production from the current 1.7 million barrels per day (bpd) to a target of three million bpd.
During a stakeholder engagement session with journalists covering the National Assembly, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, highlighted that the political will demonstrated by President Bola Tinubu has played a key role in the fight against oil theft and pipeline vandalism. This, he noted, has led to an increase in oil production from 1.4 million to 1.7 million bpd.
Soneye further stated, “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.”
He emphasised that through continued collaboration against oil theft and vandalism, an environment conducive to achieving 2.5 to 3 million bpd production levels could be created.
Reflecting on past challenges, Soneye recalled that oil production had once fallen to 900,000 bpd. He credited private security efforts and military actions for turning the situation around. “At that time, we felt Nigeria was in trouble regarding oil theft, but the intensified fight against it has alleviated our concerns,” he said.
Murtala Muhammad, Deputy Manager at the NNPC Command and Control Centre, provided an update on the economic impact of crude oil theft, revealing that over 8,000 illegal refineries and 5,800 illegal pipeline connections had been destroyed in the past six months. Bayelsa, Rivers, Imo, and Abia were identified as the major hotspots for these illegal activities.
In a related presentation, Professor Taiye Obateru discussed the role of the press in nation-building, urging journalists to prioritise fairness and the national interest in their reporting. His presentation was titled, “Balancing Reporting and Nation Building: The Role of the National Assembly Press Corps.”
