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From Adanna Nnamani, Abuja
The Nigerian National Petroleum Company Limited (NNPC Ltd) has addressed recent reports suggesting a discrepancy between its crude oil production figures and those released by the Nigerian Upstream Petroleum Regulatory Company (NUPRC). In a statement issued on Monday, NNPC Ltd emphasised that there is no contradiction between the two figures, explaining that the differences arise from the distinct periods covered by each report.
Recent media coverage highlighted a reported production of 1.54 million barrels per day (mbpd) for September 2024 by the NUPRC, which was considerably lower than NNPC Ltd’s 1.8 mbpd figure for November 2024. However, NNPC Ltd clarified that the apparent disparity stems from the fact that the NUPRC’s figure represents the average production for September 2024, while the NNPC Ltd figure of 1.8 mbpd was recorded as the peak production in October 2024.
The NNPC Ltd statement further clarified that this explanation was publicly corroborated by the Chief Executive Officer of NUPRC, Mr. Gbenga Komolafe, at the 42nd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition in Lagos. During his address, Komolafe confirmed that Nigeria’s crude oil production, including condensates, rose by 16.56 percent from 1.54 mbpd in September 2024 to 1.8 mbpd in October 2024.
“The increase of 253,710 barrels per day pushed Nigeria’s total output to 1.8 million barrels per day in October, marking a significant 16.56 percent rise month-on-month,” said Komolafe, who was represented by the Executive Commissioner for Development and Production, Mr. Enorense Amadasu.
Komolafe’s statement also emphasized that this rise in production led Nigeria to exceed its Organisation of Petroleum Exporting Countries (OPEC) production quota of 1.5 mbpd, signaling a positive trajectory for the country’s oil output.
NNPC Ltd, in its statement, reiterated that there is no inconsistency or conflicting data between the production numbers provided by the company and those released by NUPRC. The company pointed out that such reports of discrepancy are rooted in misinterpretations of the respective periods being referenced.
“We assure all stakeholders that there is no disparity between the figures released by NNPC Ltd and NUPRC.
The figures from both parties are accurate within the context of the respective periods they represent. NNPC Ltd is fully committed to working closely with all relevant authorities and stakeholders to ensure that the country meets its production targets and maintains transparency in its oil production data,” the statement continued.
The NNPC Ltd also highlighted its ongoing efforts to increase production, targeting a production rate of 2 million barrels per day (mbpd) or more by the end of 2024. The company emphasized its continued collaboration with industry partners, government agencies, and regulators to drive further growth in the nation’s oil and gas sector, while ensuring that the industry’s operations meet international standards.
The clarification from NNPC Ltd aims to reassure both domestic and international stakeholders that the country’s oil production is on an upward trajectory, despite temporary fluctuations.
