The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that there is no disparity between its crude oil production figures and those reported by the Nigerian Upstream Petroleum Regulatory Company (NUPRC).

The clarification came in response to media reports highlighting a perceived discrepancy between the 1.54 million barrels per day (mbpd) crude production figure for September cited by the NUPRC and the 1.8mbpd figure for November reported by NNPC Ltd. According to NNPC, the apparent difference is due to the varying time periods covered in the reports. NNPC Ltd.’s figure reflects the peak production for October 2024, while NUPRC’s figure is the average production for September 2024.

This was further corroborated by the Chief Executive Officer (CEO) of NUPRC, Mr. Gbenga Komolafe, during the 42nd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition in Lagos. Mr. Komolafe, represented by the Executive Commissioner for Development & Production, Mr. Enorense Amadasu, revealed that Nigeria’s crude oil output, including condensates, increased by 16.56% from 1.54mbpd in September to 1.8mbpd in October 2024. This increase of 253,710 barrels per day marks a significant rise in production.

The NUPRC confirmed that the production spike of 1.8mbpd exceeded Nigeria’s 1.5mbpd production quota set by the Organization of Petroleum Exporting Countries (OPEC).

NNPC Ltd also emphasized that the figures from both the company and the regulator are aligned and that there is no contradiction in the data. The company further reiterated its commitment to working with stakeholders to ramp up production with a goal to reach 2mbpd and beyond by the end of 2024.