KEY POINTS
- NNPC CEO Bashir Ojulari says crude receipts at Nigeria’s pipelines and terminals are now near 100% after years of losses from theft and sabotage.
- Company plans $60 billion in investments to lift production to 3 million barrels per day by 2030, but warns that international syndicates still pose risks.
- Nigeria’s defense chief calls for use of artificial intelligence and cross-border cooperation to strengthen security across Africa.
The state oil company of Nigeria claims that it is almost ready to resume full crude flows through its export terminals and pipelines, signaling a change in a long-hampered industry by sabotage and theft.
At a defense conference in Abuja on Monday, Bashir Ojulari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd., informed military leaders that crude pipelines and terminal receipts, which were previously as low as 20% to 30%, are now “nearly 100%.” He attributed the recovery to a concerted effort to combat oil theft, increased security, and intelligence sharing.
“We are attaining close to 100% due to the support of the security forces and intelligence agencies,” Ojulari said. “The dilapidating impact of crude theft, low pipeline availability and attacks are stories of the past for us.”
Oil theft shifts beyond borders as syndicates exploit gaps
Although there are noticeable improvements at home, Bayo Ojulari cautioned that crude theft is not limited to the Niger Delta. He claimed that in order to smuggle oil and maintain a billion-dollar underground trade, international syndicates are taking advantage of flaws in state and regional security systems.
“Crude theft and its attendant illegal activities are not purely localised occurrences,” he said. “These operations involve specialised international groups that take advantage of gaps within national and continental security architecture.”
In order to bridge those gaps, the NNPC chief urged African militaries to work together more closely, emphasizing that security is still a key component of energy supply and economic expansion.
Nigeria, the leading oil producer in Africa, has set the lofty goal of increasing production to 3 million barrels per day by 2030. The business has planned investments totaling $60 billion, relying on better operating conditions to attract foreign partners and increase reserves.
