The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that daily crude‑oil losses have fallen to 9,600 barrels as of 11 September 2025, the lowest level since 2009. This represents a 90 % reduction from the 102,900 barrels lost in 2021. The statement was issued in response to a national newspaper report that claimed N8.41 trillion had been lost to oil theft between 2021 and July 2025. The NUPRC said the report misinterpreted loss statistics and used an incorrect exchange rate to sensationalise the figures. According to the commission, the official exchange rate was below N430 per dollar, and the average rate between 2021 and mid‑2023 was barely N600 per dollar.
The commission attributed the sharp decline in losses to collaborative efforts involving the NUPRC, the Office of the National Security Adviser, the military, oil operators and other stakeholders. Initiatives such as the “1 million‑barrel” production project, metering audits and the restoration of shut‑in strings have helped boost output. Nigeria has continued to meet its OPEC quota, and the NUPRC aims to unlock the country’s potential to produce more than 2 million barrels per day.
Recent data from the National Bureau of Statistics show that Nigeria’s economy grew by 4.23 % in the second quarter, largely driven by increased oil production. The commission views this growth as validation of its anti‑theft measures and is working to sustain and expand output. With an improved operating environment and greater social inclusion in oil‑producing areas, the NUPRC is confident that Nigeria can further increase production and reduce losses.
The reduction in crude‑oil losses is a significant achievement for both the NUPRC and the Nigerian government and is expected to have a positive impact on the country’s economy. As the commission continues to collaborate with stakeholders to enhance production and curb losses, the Nigerian oil industry is poised for further growth and development.
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