The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that the country now has the technical capacity to produce two million barrels of crude oil per day (bpd), though still short of the 2.2 million bpd target set in the 2025 federal budget parameters.
In a statement on Thursday, the commission said Nigeria has consistently met its OPEC quota through a series of initiatives and collaboration with key industry stakeholders.
“Such initiatives include the Project 1 Million Barrels, implementation of the metering audit, restoration of shut-in strings and increased rig counts, facility uptime, and creation of alternative crude evacuation mechanisms,” the NUPRC explained.
The commission added that it is working with operators, service providers (local and international), rig owners, off-takers, and financiers to fully unlock the country’s oil production potential, leveraging an improved operating environment and community inclusion.
NUPRC also refuted a recent media report claiming Nigeria lost ₦8.41 trillion to oil theft, describing it as a misinterpretation of crude loss statistics released by the regulator between 2021 and July 2025.
The commission noted that crude oil theft has dropped sharply in recent years, with daily losses falling from 102,900 barrels per day in 2021 to just 9,600 barrels per day in 2025 – the lowest level since 2009.
“Collaborative efforts between the NUPRC, the Office of the National Security Adviser, the military, operators and other stakeholders, using both kinetic and non-kinetic approaches, have achieved over 90% reduction in losses,” the statement said.
It stressed that the gains in production have positively impacted the wider economy, citing recent National Bureau of Statistics (NBS) figures showing a 4.23% GDP growth in Q2 2025, driven largely by increased oil output alongside gains in two other sectors.
