The Nigerian Upstream Petroleum Regulatory Commission has revealed that Nigeria produced 159,158,191 barrels of crude oil in the first four months of 2024
This is according to the recent NUPRC data obtained, according to the Punch.
According to the NUPRC data, 44.2 million barrels of crude were produced in January, with an average daily production of 1.42 million barrels per day.
Nigeria in February produced 38.3 million barrels of oil at an average of 1.32mbpd.
In March, when the country’s daily output declined to 1.23 million barrels per day, 38.1 million barrels of crude oil were produced.
Daily oil production slightly increased to 1.28mbp in April, while the monthly production was 38.4 million barrels.
Meanwhile, on a month-on-month basis, the country’s total oil output from January to April was 144.8 million barrels between January and April 2023; 14.3 million less, when compared to was recorded same period in 2024.
Nigeria has been struggling with dwindling oil output despite all efforts to ramp up daily output.
Recently, the Group Managing Director of the Nigerian National Petroleum Company Limited, Mele Kyari, the adverse effects of oil theft and vandalism on the country’s economic situation., saying the act discouraged investments in the oil and gas sector.
He said “How do you increase oil production? Remove the security challenge we have in our onshore assets. As we all know, the security challenge is real. It is not just about theft; it is about the availability of the infrastructure to deliver the volume to the market.
“No one is going to put money into oil production when he knows the production will not get to the market. Within the last two years, we removed over 5,800 illegal connections from our pipelines. We took down over 6,800 illegal refineries—cooking pots or whatever they were. You simply cannot get people to put money until you solve that problem.
“The good news is, there is substantial work that is being done by the government and I’m not going to speak about it. But I know that this will come to pass. It is already subsiding. We are already seeing the results.”
