The Nigerian National Petroleum Company Limited (NNPCL) announced on Saturday that it believes Nigeria can increase its crude oil production to three million barrels per day, up from the current 1.7 million barrels.
Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, made this statement during a Stakeholders Engagement Session for journalists covering the National Assembly in Abuja. Soneye emphasized that achieving this goal will require collaboration from all key stakeholders.
He credited President Bola Tinubu with providing the political will necessary to reach this target, noting the president’s directives to security agencies to combat oil theft and pipeline vandalism. These efforts have already resulted in an increase in daily oil production from 1.4 million to 1.7 million barrels.
“Three million barrels of oil per day is possible in Nigeria if all stakeholders work together, including security agencies—both government and private—as well as oil companies and host communities,” Soneye stated. “With coordinated efforts against oil theft and pipeline vandalism, we can create the environment needed to boost production to between 2.5 and 3 million barrels per day.”
Soneye also pointed out that at one point, Nigeria’s oil production dropped to 900,000 barrels per day due to rampant theft and vandalism. However, he praised the involvement of private security firms and the military, which have helped stabilize production levels.
“At that time, we feared for Nigeria’s oil industry, but the intensified efforts to combat oil theft have eased those concerns,” he added.
During a presentation on the impact of crude oil theft on Nigeria’s economy, Murtala Muhammad, Deputy Manager of NNPCL’s Command and Control Centre, said the issue remains a serious challenge. He reported that over the past six months, more than 8,000 illegal refineries and 5,800 illegal pipeline connections were uncovered and dismantled, with Bayelsa, Rivers, Imo, and Abia states being major hotspots for these activities.
In a separate presentation titled “Balancing Reporting and Nation Building: The Role of the National Assembly Press Corps,” Professor Taiye Obateru emphasized the importance of fairness and national interest in media coverage.