The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) recently announced that the nation's technical oil production could potentially reach a substantial 2.26 million barrels per day (bpd). This information was disclosed by its Chief Executive, Mr. Gbenga Komolafe, who further elaborated on the factors influencing the nation's oil output.
1. The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) revealed that Nigeria could potentially produce up to 2.26 million barrels of oil per day.
2. This announcement was made by the Commission's Chief Executive, Mr. Gbenga Komolafe.
3. Despite the promising production potential, Mr. Komolafe expressed concern over difficulties in fully harnessing this capacity.
4. The Chief Executive highlighted a lack of adequate infrastructure as one of the major obstacles in reaching this output.
5. He also identified security challenges as a key factor hindering oil production in the country.
In 2021, Nigeria's average daily oil production was approximately 1.4 million barrels.
Mr. Gbenga Komolafe, acting Chief Executive of NUPRC, made this revelation in a recent presentation. He emphasized that Nigeria has the capability to pump up to 2.26 million barrels of crude oil per day. Despite the obvious production prospects, he expressed concern over the difficulties in fully harnessing this potential. Furthermore, he hinted at a variety of factors contributing to this predicament, key among them being lack of adequate infrastructure and pressing security challenges.