The Nigerian National Petroleum Company Limited (NNPCL) announced on Saturday that it is capable of achieving a production rate of 3 million barrels of crude oil per day, surpassing the current rate of 1.7 million barrels.
This declaration was made by Mr. Olufemi Soneye, the Chief Corporate Communications Officer (CCCO) of NNPCL, during a stakeholders engagement session in Abuja with journalists covering the National Assembly. Soneye emphasized that this goal is attainable with the support of all stakeholders.
He mentioned that President Bola Tinubu has already provided the necessary environment for this achievement by directing relevant security agencies to combat oil theft and pipeline vandalism, which has resulted in an increase in daily oil production from 1.4 million to 1.7 million barrels per day.
Soneye stated that with the collaboration of security agencies, both government and privately owned, oil companies, and host communities, Nigeria can achieve a production rate of 3 million barrels per day. He further added that with the expected synergy among all stakeholders in the fight against oil theft and pipeline vandalism, the necessary enabling environment will be established to achieve an optimal oil production volume of 2.5 to 3 million barrels per day.
He also highlighted the previous challenges faced by Nigeria in oil production, where the production rate dropped to 900,000 barrels per day. However, with the involvement of private security agencies and renewed efforts of the military, the intensity of the war against oil theft has alleviated the concerns.
Murtala Muhammad, Deputy Manager of NNPC Command and Control Centre, presented a PowerPoint on the severity of crude oil theft and its impact on Nigeria’s economy. He revealed that over 8,000 illegal refineries and 5,800 illegal oil pipeline connections were detected and destroyed in the last six months. The hotspots of this crime were identified as Bayelsa, Rivers, Imo, Abia, among others.
Professor Taiye Obateru, the resource person presenting on “Balancing Reporting and Nation Building: The Role of National Assembly Press Corps,” emphasized the importance of fairness and national interest in all news stories.
