The National Executive Council (NEC) Committee on Crude Oil Theft and Prevention is working to ensure Nigeria meets its target of producing at least 3 million barrels of oil per day, as promised by President Bola Tinubu.
The committee’s chairman, Hope Uzodimma, Governor of Imo State, expressed optimism about the country’s increasing crude oil production, attributing it to collective efforts from the oil industry management, security agencies, and sub-nationals from oil-producing states.
The committee also expressed optimism that the crude oil production has been on the increase because of the collective efforts from the management of the oil industry, security agencies and the sub-nationals from the oil-producing states.
Uzodimma, made the observations while briefing journalists on the outcome of its meeting held on Friday in Abuja with the management of the Nigerian National Petroleum Corporation Limited and Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Others present at the meeting held at Imo State Government Lodge, include Governors Monday Okpebholo (Edo), Bassey Otu (Cross River), Mai Bala Buni (Yobe); Group Chief Executive of NNPCL, Bayo Ojulari, Minister of Budget and Economic Planning, Atiku Bagudu and representatives of the NUPRC.
Uzodimma said, “Only Thursday the National Economic Council requested the Sub-Committee on crude oil theft and Prevention set up by NEC for an update.
”During the meeting we did observe that the crude oil production has been on the increase and that it is a as a result of the collective efforts from management of the industry, the security agencies and the sub-nationals from the oil-producing states.
“So we decided to meet in third place from the new management of NNPC and NUPRC the regulator.”
He added, “we are satisfied with the presentation given to us by the management of NNPC and their work plan we will engage them again before our next meeting to be able to fashion out a meeting point to ensure that Nigeria begins to produce at least three million barrels a day as promised by Mr president Bola Tinubu.
“We also jointly commended the wisdom and foresight of Mr President in making some changes in the industry and the close supervision he has deployed to the industry which is now yielding results. I think that is about what we have done and we are happy with it.”
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), crude oil production has shown promising signs of growth.
In July, production peaked at over 1.8 million barrels per day, with an average daily production of approximately 1.78 million barrels.
The NUPRC’s efforts to optimize production include implementing strategic initiatives, reactivating dormant fields, and deploying improved recovery techniques.
