The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a goal to produce 367.5 million barrels of crude oil in the first half of 2025. This plan is part of Nigeria’s broader target to boost oil production to 2.06 million barrels per day, including condensates, by the end of 2025.
According to NUPRC, domestic refineries will need 770,500 barrels per day (bpd) of crude oil to function effectively during the first half of the year. This demand equals roughly 37% of Nigeria’s projected daily oil production during the same period.
Boosting Local Refining Capacity
The NUPRC emphasised that this initiative aligns with the goals of the Petroleum Industry Act (PIA) to strengthen Nigeria’s energy sector. By ensuring a steady crude supply to local refineries, the Commission hopes to enhance domestic refining capacity and reduce reliance on imported petroleum products.
Despite recent progress in oil production, challenges such as oil theft and limited investment continue to threaten growth.
Insights from the NUPRC Report
The details were shared in a document titled “Crude Oil Production Forecast of Producing Oil Companies and the Refining Requirement of Functional Refineries in Nigeria for the First Half of 2025.” Signed by NUPRC Chief Executive Gbenga Komolafe, the report outlines the crude oil needs of nine active refineries in Nigeria.
Key figures include:
- Dangote Refinery: Needs 99.55 million barrels (550,000 bpd).
- Warri Refinery: Requires 13.58 million barrels (75,000 bpd).
- Kaduna Refinery: Needs 3.96 million barrels (66,000 bpd).
- Port Harcourt Refinery (Old): Requires 2.87 million barrels (60,000 bpd).
- Aradel Refinery (Port Harcourt): Will consume 1.27 million barrels (11,000 bpd).
Other refineries, including OPAC, Waltersmith, Dupot Midstream, and Edo Refinery, have smaller requirements ranging from 186,000 to 900,000 barrels for the six-month period.
Focus on Project 1 Million Barrels
The NUPRC’s efforts are part of Project 1 Million Barrels, launched in October 2024, which aims to increase Nigeria’s oil production to 2.5 million barrels per day in the short term. This project seeks to create a stronger partnership between oil producers and refineries to boost Nigeria’s energy independence.
“This plan reflects Nigeria’s commitment to achieving a self-sufficient oil industry,” Komolafe stated. “We expect better synergy between local refineries and producing companies, ensuring a stable and sustainable petroleum sector.”
By focusing on these goals, the NUPRC hopes to support Nigeria’s broader economic and energy aspirations while addressing current challenges in the sector.
