The Nigerian National Petroleum Company (NNPC) Limited has announced significant progress in eliminating crude oil theft, with pipeline and terminal receipts now approaching near 100% recovery.
This development follows concerted efforts by national defense and intelligence agencies to secure oil infrastructure, particularly in the Niger Delta region, where most of the country’s oil facilities are located.
The Group Chief Executive Officer of NNPC, Bayo Ojulari, highlighted that just three years ago, only about 30% of oil transported through certain pipelines reached export terminals, resulting in substantial revenue losses and reduced investor confidence. Improved security measures and collaboration among various agencies have led to a remarkable turnaround, restoring confidence in Nigeria’s crude evacuation system.
Ojulari emphasized that oil theft in Nigeria is not merely a local issue but involves sophisticated international syndicates exploiting security gaps. He commended the collaborative efforts that have dismantled these networks, contributing to the near-elimination of pipeline theft.
The resurgence in pipeline receipts is expected to bolster Nigeria’s oil output, with projections indicating that production could exceed 2.5 million barrels per day by next year—a level not seen since 2005. This improvement underscores the effectiveness of enhanced security measures and the potential for renewed growth in the nation’s oil sector.
NNPC’s success in combating oil theft marks a significant milestone in the country’s efforts to safeguard its natural resources and enhance economic stability. Continued collaboration between security agencies and the oil sector is essential to maintaining and building upon these gains.
