Nigeria’s oil output is rising as losses through pipelines decline, with improved security, reduced oil theft and Niger Delta stability supporting higher production, DARE OLAWIN writes

🇳🇬 Here's What Happened

Nigeria is witnessing a rise in oil production, driven by several factors, including a sustained reduction in pipeline losses and improved security of oil assets.

The Nigerian Upstream Petroleum Regulatory Commission’s July report showed that oil losses through pipelines had fallen to historical lows. Nigeria’s combined crude oil and condensate production also rose to approximately 1.735 million barrels per day in June, following improved security of oil assets.

The production milestone represented a fourth consecutive monthly increase and was attributed to the peace and stability in the Niger Delta, as well as the impact of Tantita Security Services Nigeria Ltd operations in protecting national assets, particularly oil pipelines in the region.

📌 Key Details

For years, Nigeria grappled with losses running into billions of dollars as a result of sabotage of oil installations and pipelines, community interference and production shutdowns. The losses negatively affected national revenue and kept oil production at low levels.

However, the sector is turning the corner, with NUPRC reports showing that pipeline losses have continued to decline, helping oil production to rise to new levels. The gains have been linked to the work done by Tantita Security Services Nigeria Ltd in the Niger Delta region.

For many stakeholders, the continued increase in oil production, alongside peace and stability in the Niger Delta, is expected to boost government revenue, external reserves and the broader fiscal outlook.

The Federal Government of Nigeria’s appointment of Tantita Security Services Nigeria Ltd to protect oil assets and promote peace and stability in the Niger Delta has played a role in the development.

President Bola Tinubu had appointed TSSNL, led by High Chief Government Ekpemupolo, alias Tompolo, to protect Nigeria’s oil assets in the Niger Delta region. The appointment was intended to enable TSSNL, through its security operations, to support the national economy in getting the full benefits of oil resources.

TSSNL works in collaboration with other security outfits to achieve its goals of securing oil assets and ensuring peace and stability in the Niger Delta region. Tantita’s operations have ensured the security of oil pipelines, supported the uninterrupted flow of petroleum resources, and helped Nigeria migrate from a position of constant loss management to stability, planning, growth and development.

📰 Source: Punch Nigeria