Nigerian authorities have recorded a major milestone in crude oil production, reaching 1.7 million barrels per day (bpd) compared to 1.1 million bpd in 2022.
The Director-General of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr. Gbenga Komolafe, disclosed this at the Renewed Hope Global Town Hall Conference in Abuja.
Mr. Komolafe attributed the reduction in crude oil theft to ongoing reforms and security measures in the oil and gas sector under the current administration.
He announced that oil theft has dropped to approximately 5,000 barrels per day, enabling Nigeria’s oil production to rise to 1.75 million bpd by January 2025.
The NUPRC DG forecasts that production will increase by an additional one million barrels per day by 2026.
In a statement issued on Sunday, the Head of Public Affairs and Corporate Communication, Olaide Shonola, highlighted that military and diplomatic interventions played a crucial role in achieving this progress.
The government is driving further production growth under the Project 1 MMBOPD initiative, which fosters collaboration among operators, service providers, investors, and local communities to enhance Nigeria’s energy sector.