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This report contradicts the Federal Government’s claims that daily crude production was nearing 1.6mbpd.

The PUNCH recalls that President Tinubu, during his August 4 nationwide broadcast, had stated that oil production increased to 1.6mbpd in July. He attributed this to the reforms 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 in August.

On July 26, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed that daily oil production had hit 1.61 million barrels in July. Komolafe made this revelation at the House of Representatives Special Committee’s two-day public/investigative hearing on oil theft and losses.

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