Grapevine

Nigeria added 45,000bpd oil in August – Report

OPEC said the average daily crude production rose marginally to add 45,000 barrels, based on information obtained through direct communication with the Nigerian government.

The report is contrary to claims by the Federal Government that the daily crude production was nearing 1.6mbpd.

The PUNCH recalls that President Tinubu, during his August 4 nationwide broadcast, boasted that oil production increased to 1.6mbpd in July.

He attributed the rise to the reforms he announced in May to address the Petroleum Industry Act.

“Our once-declining oil and gas industry is experiencing a resurgence on the back of the reforms I announced in May 2024 to address the gaps in the Petroleum Industry Act. Last month, we increased our oil production to 1.61 million barrels per day, and our gas assets are receiving the attention they deserve,” the president said last month.