Nigeria has recorded a setback in its oil revenue target for 2025, posting a 2.04 million barrels of oil loss in the first half of the year (H1 2025).

This is based on trends of crude oil losses year-to-date July 2025, released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), yesterday.

The latest statistics are associated with crude oil losses from theft and metering issues which dropped to their lowest levels in nearly 16 years.

According to the report, in July 2025, daily losses stood at 9,600 barrels per day (bpd), the lowest figure since 2009 when losses dropped to all-time low of 8,500 bpd.

The commission maintained that, the progress marks a major leap forward in its drive to eliminate all forms of crude losses in Nigeria’s oilfields and pipelines.

It said: “Between January and July 2025, crude oil losses were contained at 2.04 million barrels, averaging 9,600 barrels per day over the seven-month period. This marks a clear departure from the high-loss years that have long plagued the industry.

“By comparison, the entire 2024 calendar year recorded 4.1 million barrels lost at a daily average of 11,300 barrels. Remarkably, in just the first seven months of 2025, losses were cut by 50.2 per cent, with only 2.04 million barrels lost over the period.”

NUPRC added that, the figures for the period ending July 2025 also represent a dramatic 94.57 percent drop in crude oil losses compared to the full year of 2021, when Nigeria lost a staggering 37.6 million barrels at a daily average of 102,900 barrels.

“So far in 2025, only 2.04 million barrels have been lost, which is a reduction of 35.56 million barrels compared to the 37.6 million barrels lost in 2021, underscoring the scale of progress made in just four years.

Crude oil losses in 2021 were the highest recorded in nearly 23 years, making it the peak year between 2002 and July 2025.

Since the implementation of the Petroleum Industry Act in 2021, Nigeria has recorded steady progress in reducing crude oil losses. In 2021, losses stood at 37.6 million barrels, averaging 102,900 barrels per day. By 2022, this dropped to 20.9 million barrels at a daily average of 57,200 barrels.”

According to the report, the downward trend continued in 2023, with losses reduced to 4.3 million barrels at 11,900 barrels per day. Even more progress was made in 2024, as losses were further contained to 4.1 million barrels, averaging 11,300 barrels per day.

The Commission said it has adopted a balanced mix of kinetic and non-kinetic strategies in tackling oil losses. On the kinetic front, the Commission has continued to collaborate closely with security agencies, operators and communities.

“On the non-kinetic front, NUPRC has implemented strategic regulatory measures to close systemic loopholes. One key initiative is the metering audit across upstream facilities to ensure accurate measurement of production and exports. To further strengthen control, the NUPRC under the leadership of Mr. Gbenga Komolafe, approved 37 new crude oil evacuation routes to combat oil theft. (Daily Sun)

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