NewStats: 3,262,004 , 8,175,854 topics. Date: Saturday, 31 May 2025 at 01:40 PM 6511t

There seems to be hope in the offing for Nigeria as its dwindling daily oil production turned the corner in April, rising marginally from 1.23 million barrels per day in March to 1.28 mbpd, according to the Organisation of the Petroleum Exporting Countries.

OPEC, in its Monthly Oil Market Report for May, said Nigeria’s oil production added 50,000 barrels daily in the last month after it fell in recent times during the month before.

The nation’s crude production fell from 1.32 million barrels per day in February to 1.23 million barrels per day in March, according to a report issued by the organization on Tuesday.

Production dropped from 1.427 mbpd in January to 1.322 mbpd, according to primary sources.

The continuous drop in production came amid stakeholders’ concerns over the loss of revenue due to the failure of the government to ramp up production.

Recently, the Chairman of the Petroleum Technology Association of Nigeria, Wole Ogunsanya, said the country was losing a lot of revenue daily due to its inability to tackle dwindling oil production.

According to Ogunsanya, if Nigeria could retain between 60 and 70 per cent of the oil and gas value chain in the country, it stands a better chance of being among the top 20 economies in the world.

He pointed out that the country was underproducing to the tune of at least 500,000 barrels per day, which was a huge loss to the country.



But the Federal Government said the drop in Nigeria’s crude oil production was due to issues encountered on the Trans Niger Pipeline, coupled with maintenance activities carried out by some oil companies operating across the country.

It, however, stated that efforts were on to fix the pipeline, adding that this would enable the country to produce up to 1.7 million barrels per day of crude oil and condensates.

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, claimed that the drop in production was due to issues encountered on the Trans Niger Pipeline.

“In response to recent concerns regarding a shortfall in oil production in Nigeria during the first quarter of 2024, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, assures (Nigerians) that measures are being taken to address the situation to, not only restore production to previous levels but to also increase it.

“The minister clarifies that the reported production shortfall was primarily due to issues encountered on the Trans Niger Pipeline, coupled with maintenance activities carried out by some oil companies operating in Nigeria.

“The minister is also pleased to announce that the issues have been adequately addressed, and production is expected to return to its previous levels in the coming days,” a statement by Lokpobiri’s spokesman, Nneamaka Okafor, said in April.

At a meeting with stakeholders in Lagos recently, Lokpobiri emphasised that idle oil wells and licences would be revoked and handed over to individuals with proven capacity to explore.

https://punchng.com/nigerias-oil-output-recovers-after-march-dip-says-opec/?utm_source=telegram&utm_medium=social

Scam...
Nigeria na pure scam😏

Still cannot believe nnpc cannot supply Dangote refinery with crude oil .

Nigeria is a hopeless case

O to gbeera..

When I was in school I was taught Nigeria is producing 2.2mbpd, what's with these numbers I dey see here for years now?

This illegitimate govt is truly not serious.

2.4 million barrels per day during PDP is now rocket science

COMRADES, e recover, eno recover. I no dey feel the impact

melodyogonna:
When I was in school I was taught Nigeria is producing 2.2mbpd, what's with these numbers I dey see here for years now?

That's the question all sane nigerians should be asking. How did we go so low as soon as APC won the elections

So we should expect a slight improvement on naira rate Abi!
I have business to do next week!

That's beautiful

@ op what has this impacted on ur life this week.

Rubbish.

Una still the borrow money corrupt government

PheelzAlmighty:
Scam...
Nigeria na pure scam😏

Jj

Xox1945:
Una still the borrow money corrupt government

Hjj

Salvador1:
@ op what has this impacted on ur life this week.

Rubbish.

Small Saudi is producing 9m

With our population we should Be doing 20m

All least produce 2.5m and improve capacity by 300k yearly

Heard as much but it's still not enough if we still have inadequate supplies to the local refineries.

dacool1:


That's the question all sane nigerians should be asking. How did we go so low as soon as APC won the elections

And this is d cause of more than half d problem...
Our revenue reduced in gmb time due to his lackadaisical attitude towards d oil industry& he decided to save face and kept borrowing money.. BAT comes in and finds a lot of debt on ground & also low revenue and decides to redirect d burden to d pple with taxes and high exchange rate... he refuses to address d initial problem of d cycle which is real revenue (not TAXES)