Nigeria has the potential to produce 1.9 million barrels of crude oil per day, having hit a peak production of 1.86 million barrels per day in May, according to the chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan.
The NUPRC chief said this on Wednesday during a meeting with the chairman of the Nigeria Revenue Service, Mr Zacch Adedeji, at the NRS headquarters in Abuja.
In a statement signed by the agency’s Head of Media and Corporate Communications, Mr Eniola Akinkuotu, it was disclosed that the country’s oil industry has continued to record production growth, noting that crude output reached a peak of 1.86 million barrels per day in May, placing the industry on a stronger recovery path.
The meeting also focused on strengthening collaboration between the two agencies to promote transparency, accountability and efficiency in the collection of oil and gas revenues.
Speaking during the engagement, Mrs Eyesan commended the leadership of the NRS for reforms that culminated in the enactment of the NRS Act and described the transition of revenue collection responsibilities as smooth.
Mrs Eyesan said the process had been seamless. The CCE also highlighted the Commission’s efforts in creating an enabling environment for operators in the oil and gas industry.
“We are here to enable them, enable their businesses, ensure that they survive and succeed. And we want to grow the pie because when you grow the pie, everybody benefits,” she said.
She also disclosed that recent gains in crude production demonstrate that industry reforms and collaborative efforts by stakeholders are beginning to yield positive results.
“We are back to production. We are ramping up now, and we want to continue working. We still recognise the constraints. Infrastructure and asset integrity are major constraints, but we will work on these. Even human capacity in the industry—we see that because we want to grow, we must also grow that capacity to meet the demands,” she said.
The NUPRC boss also pointed out that one of the key targets upon assuming office was the digitisation of NUPRC’s operations, a goal she said has largely been achieved.
