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‘Projected Crude Oil Production Short By 283m Barrels’

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Nigeria’s crude oil production when put side-by-side its expected output of 1.88million barrels per day in 2022, was short by a whopping 283million barrels, amounting to roughly $24.55billion.
This figure was arrived at when an estimated conservative price of $85 per barrel for which the commodity sold in the year under review, is multiplied by the 283million barrels deficit recorded during the period.
A further review indicated that while the 2022 budget projected a 1.88million bpd, that is about 58.28million barrels every month or an estimated 700million barrels for the entire year, only 417million barrels were drilled for the entire year.
This represented about 59.57 per cent output for the year.
But on the upside, although the National Assembly pegged the price benchmark at $57 per barrel, oil sold far more than that in 2022, even exceeding $100/barrel at some point.
The figures were released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) from January to December, last year.
With its inability to drill up to 60per cent of its expected volume in 2022, the country lost roughly 40per cent of its output to oil theft and sabotage as a result of incessant shut-in of planned output for the period.
A review of the NUPRC data covering the whole of last year revealed that Nigeria only managed to drill 43.3million barrels in January, turning out to be the highest output for the year; 35.2million barrels in February; 38.3million barrels in March and 36.5million barrels in April.
It deteriorated to 31.7million barrels in May; rose marginally to 34.7million barrels in June, before falling to 33.6million barrels in July last year.
In August, Nigeria produced 30.1million barrels, against the 58.2million barrels projection; followed by September in which Nigeria’s output fell to a multi-decade low of 28.1million barrels while in October and November, the country drilled 31.4million barrels and 35.5million barrels, respectively.
Furthermore, when recovery began to set in in December last year, the country managed to drill 38.2million barrels of oil, cumulating to around 417million barrels instead of the forecast of 700million barrels for the year by the Federal Government.
However, the crude oil production figures exclude condensates which are not included in the Organisation of Petroleum Exporting Countries (OPEC) calculation. In 2022, OPEC’s daily production allocation averaged 1.8million bpd.
Last year witnessed one of the worst in the history of the country as it consistently failed to meet its OPEC quota.
However, with the recent concerted effort to end oil theft in the country, there has been some recovery as underscored by the December output data.
Earlier this month, the Minister of State, Petroleum Resources, Chief Timipre Sylva, said Nigeria was working towards meeting its OPEC crude oil production quota of 1.8million bpd by the end of May 2023.
He explained that the Federal Government would continue to improve security along the tracks of the major crude oil pipelines and block every leakage through which crude oil is stolen by oil thieves and pipeline vandals.
But after months of stalling, Nigeria appears to be steadily on its way to meeting its OPEC production quota, hitting 1.235million barrels per day in December.
However, the figure differed markedly from the production of 1.59million bpd announced for the month by the Nigerian National Petroleum Company Limited (NNPC) earlier and the 1.35million bpd by a Bloomberg survey.
In January 2022, out of the expected 1.88million bpd production figure, 1.39million bpd was drilled.
In February, March, April, and May 2022, respectively, oil production fell steadily to 1.25million bpd, 1.24million bpd, 1.22million bpd, and 1.02million bpd, while in June it rose marginally to 1.15million bpd, before falling to 1.08million bpd in July.
In August, the oil sector hit a deadly blow on the Nigerian economy, slumping to 972,394bpd, and further falling to 937,766bpd in September, before rising to 1.014million bpd in October.
The Nigerian government has recently taken a rash of decisions to tackle the embarrassing oil theft situation in the Niger Delta, hiring local security groups as pipelines surveillance contractors.
Among those handed the security contracts was a firm belonging to a former Niger Delta warlord, Mr Government Ekpemupolo, also known as Tompolo.
In addition, the NNPC has announced that it can now monitor Nigeria’s oil infrastructure in real time with its new automated platform and has inaugurated a whistle-blowers scheme which rewards persons who report the activities of suspected oil thieves to the national oil company.

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PDP Kicks As APC Wins FCT Council Polls

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The Peoples Democratic Party (PDP) has inaugurated a special legal team to handle election petitions arising from last Saturday’s Area Council elections in the Federal Capital Territory.

This comes as the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.

The Tide reports that the council elections were held on Saturday, February 21, 2026, across all six FCT area councils, including Abaji, AMAC, Bwari, Gwagwalada, Kuje, and Kwali.

Results announced so far by the Independent National Electoral Commission (INEC) show that the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.

In a statement issued yesterday by PDP’s National Publicity Secretary, Ini Ememobong, the party congratulated its candidates, who emerged winners in the chairmanship and councilor elections.

The opposition party acknowledged the victories, noting that the number of wins was lower than expected but significant given the alleged irregularities during the polls.

“We specifically congratulate the Chairman-elect of Gwagwalada Area Council, Mohammed Kasim, and the councillors who have been declared successful by the Independent National Electoral Commission (INEC).

“This victory, though less in number than we anticipated, is particularly gladdening because it is against the background of unprecedented intimidation, high-powered money politics, and brazen executive brigandage,” the statement read.

Ememobong claimed that there are reports and video evidence indicating voter intimidation and unlawful conduct that influenced the outcome of the elections.

“Reports and video evidence abound where armed security personnel were used to cart away result sheets in polling units, intimidate voters, and unduly influence the outcome of the elections.”

To address complaints and litigations arising from the polls, he said the party has set up a legal team headed by its National Legal Adviser, Shafi Bara’u, Esq.

The statement urged candidates with legitimate grievances to contact the Legal Adviser promptly, as delays could jeopardise their chances in election petition cases.

“The incredible voter apathy in these polls is a direct response to the anti-people Electoral Act 2026, where the people have completely lost faith in the electoral outcomes from elections conducted under this Act.

“These Local Council polls may just be a foreshadowing of the forthcoming general elections in 2027 if changes are not urgently made,” the statement added.

The PDP called on the National Assembly and the President to take corrective action to safeguard the integrity of Nigeria’s democracy.

 

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S’Court Gets New Justice As CJN Swears In Oyewole, Wednesday

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The Chief Justice of Nigeria, Kudirat Kekere-Ekun, will on Wednesday swear in Justice Joseph Oyewole as a Justice of the Supreme Court of Nigeria.

The ceremony is scheduled to be held at 2pm at Courtroom Two of the Supreme Court complex in Abuja.

The court urged guests to adhere strictly to the court’s protocols and security measures.

This was contained in a statement issued yesterday by the Supreme Court’s Director of Information and Public Relations, Dr Festus Akande.

The court described Oyewole’s appointment as a step towards reinforcing the capacity of the apex court to deliver fair and timely judgments.

Recall that Oyewole was, until his elevation, a Justice of the Court of Appeal and Presiding Justice of the Enugu Division, and joins the apex court bench as part of ongoing efforts to strengthen the judiciary.

The National Judicial Council recommended Oyewole for the position alongside 35 others for various judicial offices, following its 110th meeting held on January 13, 2026, and presided over by Justice Kekere-Ekun.

The statement partly read, “The Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, GCON, will on Wednesday, 25th February, 2026, preside over the swearing-in ceremony of the newly appointed Justice of the Supreme Court, Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA.”

According to the statement, Oyewole served with distinction at the Court of Appeal and as Presiding Justice of the Enugu Division prior to his elevation.

“His appointment underscores the commitment of the Nigerian judiciary to upholding the rule of law, ensuring justice, and strengthening the bench with experienced and dedicated jurists. He brings a wealth of legal expertise and integrity to the apex court to further enhance its capacity to deliver fair and timely judgments,” the statement added.

The apex court further described the swearing-in as “another significant step in rejuvenating the judiciary and ensuring the continued delivery of justice in line with the highest standards of integrity, competence, and impartiality.”

The Supreme Court reiterated its commitment to justice, fairness and judicial independence for the benefit of Nigerians.

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Fubara Mourns Senator Mpigi

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Rivers State Governor, Sir Siminalayi Fubara, has expressed deep shock and sadness over the sudden passage of  Senator Barinada Mpigi, the Senator representing  South East Senatorial District of Rivers State.

In a tribute to mourn the deceased, Governor Fubara described Mpigi as a brother, a consummate politician and one of the leading lights in Rivers State.

He said that Mpigi died at a critical time when his services were still needed by the people of Rivers  State and prayed God Almighty to grant him eternal rest.

The governor  commiserated with his immediate family,  the Rivers South East Senatorial District and the Senate at large, asking them to take solace in the fact that the deceased lived a good life and impacted positively on the people.

Senator Mpigi died  at the age of 64. Until his death, he was the Chairman of the Senate Committee on Works.

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