Nigeria’s Oil Production Rebounds as Theft Drops to 5,000bpd – NUPRC

Nigeria’s oil production has increased to 1.75 million barrels per day as of January 2025, thanks to a significant decrease in crude oil theft.

According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in a statement on Sunday by Mr. Olaide Shonola, the Head of Public Affairs and Corporate Communication, oil theft has dropped to 5,000 barrels per day, down from a peak of 1.1 million barrels per day in 2022.

The Chief Executive of the Commission, Mr. Gbenga Komolafe, disclosed that the decline in oil theft was achieved through a combination of kinetic and non-kinetic interventions.

“Oil theft that led to a drastic drop in production to 1.1 million BOPD in 2022 has significantly reduced to 5,000 BOPD, leading to a steady production increase to 1.7 million BOPD.

“In May 2023, the Commission unveiled its 10-year Regulatory and Corporate Strategic Plan (2023–2033), followed by a Regulatory Action Plan for 2024, detailing key industry reforms,” Komolafe stated.

Persecondnews recalls that the Chief of Army Staff, Lt.-Gen. Olufemi Oluyede had in December 2024, given troops protecting oil installations in Port Harcourt one month to see improvement in production through the reduction of illegal bunkering.

He said the government must make more money from crude oil production in order to crash the dollar rate against the local currency.

Oluyede, who spoke in Port Harcourt while addressing troops of 6 Division of the Nigeria Army , Port Harcourt, said:”If Nigeria is not making money from oil production, the foreign exchange rate will keep on rising and everything will be very expensive.

“There is no other way as we speak now that the dollar will come down if government does not make money from oil because oil is the mainstay of the Nigeria’s economy.

“So, if we are not making money from oil, the dollar will keep rising and that means everything will be very expensive.”

He added:“Nigeria is our country. We don’t have any other country. So, we must make Nigeria work. So, why I’m here this afternoon is to tell you to safeguard all the oil installations in Niger Delta and that you must do well.

“I have spoken to your Brigade commanders, I have spoken to your Commanding officers, I have told my officers to lead you well.”