The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a significant reduction in daily crude oil losses, dropping to 9,600 barrels per day as of September 11, 2025. This marks the lowest level of crude oil losses since 2009, representing a 90% reduction from the 102,900 barrels lost in 2021.
The commission’s statement was in response to a report published by a national newspaper, which claimed that N8.41 trillion had been lost to oil theft between 2021 and July 2025. The NUPRC argued that the report was based on a misinterpretation of crude loss statistics and used an incorrect exchange rate to sensationalize the figures. According to the commission, the actual exchange rate was less than N430 on the official market and barely N600/$1 on average between 2021 and mid-2023.
The NUPRC attributed the reduction in crude oil losses to collaborative efforts between the commission, the Office of the National Security Adviser, the military, operators, and other stakeholders. The commission’s initiatives, including the project to produce 1 million barrels, implementation of metering audits, and restoration of shut-in strings, have contributed to the increase in oil production. Nigeria has continued to meet its OPEC quota, and the commission aims to unlock the country’s potential to produce above 2 million barrels daily.
The latest figures from the National Bureau of Statistics show that Nigeria’s economy grew by 4.23% in the second quarter, largely due to increased oil output. The NUPRC’s efforts to combat crude oil theft have been vindicated by this growth, and the commission is working to sustain and grow production. With the improved operating environment and social inclusion in operating areas, the NUPRC is confident that Nigeria can increase its oil production and reduce losses further.
The reduction in crude oil losses is a significant achievement for the NUPRC and the Nigerian government, and it is expected to have a positive impact on the country’s economy. As the commission continues to work with stakeholders to improve oil production and reduce losses, Nigeria’s oil industry is likely to experience further growth and development.
