The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has reported a significant decline in the country’s crude oil losses, reaching a 16-year low. According to the NUPRC’s July monthly report, daily losses have decreased to 9,600 barrels per day (bpd), the lowest figure since 2009.

Between January and July 2025, the upstream oil sector contained crude oil losses at 2.04 million barrels, averaging 9,600 bpd over the seven-month period. This represents a substantial 94.57% reduction in crude oil losses compared to 2021, when Nigeria lost 37.6 million barrels at a daily average of 102,900 bpd.

The NUPRC attributes this achievement to the implementation of the Petroleum Industry Act in 2021, which has led to steady progress in reducing crude oil losses. The Act has likely improved the regulatory framework, enhanced monitoring, and increased efficiency in the oil sector, contributing to the decline in losses.

Crude oil losses have been a significant concern for Nigeria, and this reduction is a positive development for the country’s oil industry. The decrease in losses can be attributed to various factors, including improved infrastructure, enhanced security measures, and better regulatory oversight.

The NUPRC’s report highlights the progress made in addressing crude oil losses, which is essential for Nigeria’s economy, as oil exports are a crucial source of revenue. The reduction in losses is expected to have a positive impact on the country’s oil production and revenue generation.

The decline in crude oil losses is a significant milestone for Nigeria’s oil industry, and the NUPRC’s efforts to implement the Petroleum Industry Act have yielded positive results. As the country continues to work towards improving its oil sector, this achievement is a step in the right direction, and further progress is expected in the coming months.