TDF applauds reduction in crude oil theft under Tinubu administration

The Democratic Front hails the Tinubu administration’s oil sector reforms, which cut daily crude oil theft from 108,000 to 5,000 barrels, boosting Nigeria’s production

 

[dropcap]T[/dropcap]he Democratic Front (TDF) has praised the significant reduction in Nigeria’s daily crude oil theft, which has fallen from 108,000 barrels per day (bpd) in 2022 to 5,000 bpd, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

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In a statement signed by Chairman Mallam Danjuma Muhammad and Secretary Chief Wale Adedayo, TDF described this achievement as monumental, crediting the reforms introduced by President Bola Ahmed Tinubu’s administration for this remarkable progress.

“This awe-inspiring success is monumental in the history of the oil sector, given the devastating drain the criminal act of crude oil theft has constituted on the nation’s oil revenue and resources in the last two decades,” the statement read.

The group noted the decline in stolen crude from 36.69 million barrels in 2022 to 7.68 million barrels in 2023, citing the administration’s commitment to tackling oil theft and restoring productivity.

The success of these reforms has also led to an increase in daily crude oil production, rising from 798,542 bpd in May 2023 to 1.7 million bpd today.

TDF expressed optimism that the ongoing efforts would continue to boost Nigeria’s oil revenue and economic stability.

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Encouraging continued public support, TDF called on Nigerians to sustain their faith in the Tinubu administration’s leadership and commitment to national progress.