The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that Nigeria recorded 732 oil spill incidents in 2024, with sabotage responsible for nearly 60 per cent of the cases.
According to the NUPRC’s 2024 Annual Report, 59.01 per cent of the spills were linked to deliberate tampering with oil infrastructure. The report, mandated by the Petroleum Industry Act (PIA) 2021, highlights the persistent challenge of oil theft and pipeline vandalism facing Nigeria’s petroleum sector.
The report, submitted to the Minister of Petroleum Resources in line with sections 24(9) and (10) of the PIA, also presented a snapshot of the country’s hydrocarbon reserves, production output, and fiscal performance in the sector.
As of January 1, 2024, Nigeria’s crude oil and condensate reserves stood at 37.50 billion barrels — a 1.45 per cent increase from the 2023 figure of 36.096 billion barrels. Gas reserves also showed a marginal rise of 0.21 per cent to 209.26 trillion cubic feet (TCF), compared to 208.83 TCF recorded a year earlier.
The total volume of crude oil produced in 2024 was 578.5 million barrels, averaging 1.58 million barrels per day. However, production performance fell short of the targeted annual rate, achieving only about 67 per cent of the target.
On gas production, NUPRC reported an estimated daily output of 6.86 billion cubic feet, with 92.26 per cent of the total 2.511 TCF produced fully utilized. Just 7.64 per cent was flared, while 0.10 per cent was lost to shrinkage.
Financially, the report shows a significant leap in revenue, with NUPRC generating ₦12.25 trillion in 2024 — a 76.74 per cent increase from the projected ₦6.93 trillion. Expenditure stood at ₦191.1 billion, out of a total budget of ₦286.9 billion, while income hit ₦281.3 billion.
In addition to addressing operational statistics, the commission disclosed that six cases were successfully closed out during the year under review.
The NUPRC reaffirmed its commitment to transparency, investment promotion, and regulatory efficiency in Nigeria’s oil and gas industry, noting that the 2024 Licensing Round will continue in accordance with the enhanced frameworks of the PIA to attract fresh exploration ventures.
The commission’s report further underscores the urgent need for improved security and technological surveillance in oil-producing regions, especially the Niger Delta, where sabotage has remained a major obstacle to sustainable development in the energy sector.
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