By Ayomide Otitoju
The Nigerian National Petroleum Company Limited (NNPCL) has announced that increasing crude oil production from the current 1.7 million to 3 million barrels per day is feasible. Mr. Olufemi Soneye, Chief Corporate Communications Officer of NNPCL, made this statement during a Stakeholders Engagement Session with Senate correspondents in Abuja.
Soneye emphasized that achieving this target requires collaboration among all stakeholders, including government, private security agencies, oil companies, and host communities. “Three million barrels of oil production per day is achievable in Nigeria if all stakeholders work in synergy,” he said.
He credited the political will of President Bola Tinubu and the involvement of private security agencies, along with renewed military efforts, for increasing production from a previous low of 900,000 barrels per day and addressing issues of oil theft and pipeline vandalism in regions like Bayelsa, Rivers, Imo, and Abia.
Despite these advancements, NNPCL acknowledged that crude oil theft and its negative impact on Nigeria’s economy remain significant challenges. The company reported the detection and destruction of over 8,000 illegal refineries and 5,800 illegal oil pipeline connections in the past six months.
