The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says crude oil losses in Nigeria have dropped by about 90 per cent in the past four years, falling from an estimated $7 million per day in 2021 to about $700,000 daily in 2025.
NUPRC Chief Executive, Gbenga Komolafe, disclosed this during an interview on ARISE News, where he credited a mix of security measures and regulatory reforms for the turnaround in tackling oil theft, pipeline vandalism, and metering lapses.
“As of 2021, Nigeria was losing about 100,000 barrels of crude daily, translating to $7 million at the prevailing exchange rate then.
“Today, we are recording an average loss of about $700,000 daily,” Komolafe said.
He dismissed claims in a recent report that Nigeria lost N8.4 trillion worth of crude in four years, arguing that the figures were based on faulty methodology.
He stressed that the NUPRC is the sole statutory body mandated to provide production data relied upon globally, including by OPEC.
Komolafe said President Bola Tinubu had, on assumption of office, directed the commission to drastically cut leakages in crude oil revenue, a directive that intensified joint operations by security forces.
Beyond security interventions, Komolafe highlighted two new policies of the Upstream Measurement Regulation and the Advanced Cargo Declaration Regulation designed to track every barrel of crude from Nigeria’s terminals to discharge points abroad.
“These are novel, non-kinetic measures.
“For the first time, we carried out integrity tests on nearly 700 metering points across flow lines.
“Our objective is simple: ensure every molecule of crude is digitally tracked in real time, from loading to delivery,” he explained.
He noted that the first phase of implementation has already taken effect, boosting transparency and plugging loopholes in the system.
Commenting on the ongoing face-off between the Dangote Refinery and oil workers, Komolafe clarified that the issue falls within the midstream and downstream sectors.
However, he urged both parties to resolve their differences amicably to avoid disruptions in fuel supply.
For decades, Nigeria has struggled with massive crude oil losses due to theft, vandalism, weak oversight, and infrastructural decay.
The losses have crippled revenue, stifled production growth, and increased repair costs, undermining the oil-dependent economy.
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