Nigeria’s Crude Oil Production Skyrockets to 1.7 Million Bpd as Oil Theft Drops to 5,000 Barrels Per Day
Abuja – Nigeria’s upstream petroleum regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has made a significant breakthrough in reducing oil theft and increasing crude oil production. According to the Commission’s Chief Executive, Gbenga Komolafe, oil production has soared to 1.7 million barrels per day in January 2025, up from 1.1 million barrels per day in 2022.
Speaking at the Renewed Hope Global Town Hall Conference in Abuja, Komolafe disclosed that the commission’s efforts to combat oil theft have yielded results, with the volume of stolen crude oil reducing to 5,000 barrels per day. This achievement, he attributed, has contributed to the increase in crude oil production.
The NUPRC chief highlighted that the commission has been implementing reforms aimed at enhancing regulatory effectiveness, attracting investments, and boosting oil production. These reforms include the unveiling of the 10-year Regulatory and Corporate Strategic Plan (2023-2033) and the Regulatory Action Plan for 2024, which detail key industry reforms.
One of the key initiatives under the reforms is the Project 1 MMBOPD (1 Million Barrel Oil Per Day) initiative, which aims to boost oil production by collaborating with operators, service providers, financiers, and host communities. The commission also launched the 2024 Licensing Round, offering 24 oil and gas assets to investors, and held roadshows in major global energy hubs to attract participation.
Komolafe also emphasized the importance of the Nigeria Gas Flare Commercialisation Programme in achieving the country’s energy transition strategy. The programme aims to eliminate routine gas flaring, reduce methane emissions, and encourage carbon capture technologies. Additionally, the commission has implemented regulations to curb revenue leakages and crude oil theft, including hydrocarbon metering, fiscal oil price determination, and cargo declaration systems.
Nigeria’s gas production has also experienced a significant increase, rising to 7 billion standard cubic feet per day. The country’s oil reserves have been estimated at 37.5 billion barrels, while gas reserves stand at 209 trillion cubic feet, making it the continent’s second-largest oil reserve holder and the largest gas reserve holder.
The NUPRC chief also highlighted the commission’s commitment to collaborating with global investors, financiers, and energy stakeholders to unlock the nation’s full hydrocarbon potential while driving sustainable development. He reaffirmed the government’s commitment to regulatory certainty, investment-friendly policies, and global competitiveness, positioning Nigeria as a prime destination for energy investments in Africa.
In light of these developments, Komolafe emphasized that Nigeria is now more ready for business than ever, offering a stable political environment, a growing gas economy, and a clear roadmap for energy transition. The commission’s strong financial performance, including exceeding revenue targets by 84 per cent in 2024, further underscores its commitment to fiscal transparency and investment in the country’s oil and gas sector.
Nigeria’s upstream sector has made significant strides under the current administration, and the commission’s efforts to promote sustainable energy practices and reduce the carbon footprint of upstream operations are yielding positive results. With the implementation of the Alternative Dispute Resolution Centre and the incorporation of 137 Host Community Development Trusts to foster local participation and stability, the NUPRC is committed to ensuring a positive and enabling environment for investors and operators in the country’s oil and gas sector.
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