By: Erewunmi Peace

Imo State Governor Hope Uzodimma, Chairman of the Crude Oil Theft and Management Committee under the National Economic Council (NEC), has announced a renewed partnership with the Nigerian National Petroleum Company Limited (NNPCL) aimed at raising Nigeria’s crude oil production to three million barrels per day (bpd).

The move aligns with President Bola Ahmed Tinubu’s directive to restore Nigeria’s oil output and increase revenue for economic stability.

Why the Push for 3 Million Barrels?

Currently, Nigeria produces about 1.8 million bpd, an improvement from previous lows due to increased security in oil-producing regions. However, the government is targeting 3 million bpd to boost foreign exchange earnings and stabilize the economy.

Governor Uzodimma, speaking after a high-level meeting in Abuja with NNPCL officials and stakeholders from oil-producing states, said:

“We have reviewed the current situation and are satisfied with the progress so far. Our objective remains clear – to achieve three million barrels per day in line with President Tinubu’s target. With improved security and better coordination, this goal is achievable.”

Crackdown on Oil Theft

One major focus of the partnership is eliminating crude oil theft, which has cost Nigeria billions in lost revenue. Security initiatives like Operation Delta Sanity have helped reduce illegal activities on pipelines, restoring confidence in the sector.

Uzodimma commended the federal government for deploying advanced technology, including surveillance drones, to monitor pipelines and curb sabotage.

What It Means for Nigeria’s Economy

If Nigeria reaches 3 million bpd, it would mark the country’s highest oil output in nearly two decades, providing:
Increased revenue for infrastructure and social programs
Better foreign exchange stability
Job opportunities in the oil and gas sector.

The Road Ahead

While progress is being made, experts caution that sustained production will require new investments in oil fields, pipeline security, and regulatory reforms.

Governor Uzodimma assured Nigerians that the committee will continue working with all stakeholders, including security agencies and international oil companies, to meet the target.