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 fallen 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 94.57 % reduction compared with 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. Additional factors such as improved infrastructure, enhanced security measures, and better regulatory oversight have also played a role.
Crude‑oil losses have long been a major concern for Nigeria, and this reduction is a positive development for the country’s oil industry and economy, given that oil exports are a crucial source of revenue. The NUPRC’s report highlights the progress made in addressing these losses, which is essential for sustaining oil production and revenue generation.
The decline in crude‑oil losses marks a significant milestone for Nigeria’s oil sector, demonstrating the positive impact of the Petroleum Industry Act. As the country continues to improve its oil industry, this achievement is a step in the right direction, and further progress is expected in the coming months.
Comments are closed for this story.