The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed the accuracy of the 1.8 million barrels per day (bopd) crude oil production figures announced by the Nigerian National Petroleum Company Limited (NNPCL).
This confirmation was made at the 42nd Annual Conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
NUPRC Chief Executive, Gbenga Komolafe, speaking through Enorense Amadasu, Executive Commissioner for Development and Production, clarified that contrary to claims of discrepancies, the NUPRC figures align with those provided by NNPCL.
Komolafe revealed that Nigeria’s crude oil output, including condensates, rose by 16.56% in October 2024, reaching 1.8 million bopd, up from 1.54 million bopd in September.
He added that this milestone surpasses Nigeria’s 1.5 million bopd quota set by the Organization of Petroleum Exporting Countries (OPEC).
“This represents a significant monthly increase of 253,710 bopd, signaling steady progress toward meeting our target of 2 million bopd by December 2024,” Komolafe said.
At the event, NNPCL Group CEO Mele Kyari praised the collaborative efforts behind the production recovery.
He commended the Production War Room team, established in June 2024, for driving the increase in crude oil production.
Kyari emphasized that their strategic interventions, along with security agencies’ contributions, have ensured consistent gains in oil output.
Chief War Room Coordinator, Lawal Musa, detailed the progress made, stating that production rose from 1.43 million bopd in June to 1.7 million bopd in August and the current 1.8 million bopd.
He expressed confidence in achieving the 2 million bopd target by year-end through sustained collaboration and security measures.
NNPCL Board Chairman, Chief Pius Akinyelure, lauded the achievement and urged management to develop cash flow projections reflecting the increased output.
He expressed optimism for further growth, targeting 3 million bopd in the long term.
The milestone aligns with NNPCL’s commitment to fulfilling President Bola Ahmed Tinubu’s directive to maximize Nigeria’s oil and gas production capacity, ensuring energy security and economic growth.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
