OPEC Data Contradicts Tinubu’s Claims in Nationwide Broadcast.
President Bola Tinubu’s recent claims about Nigeria’s crude oil production have come under scrutiny, as newly released data from the Organisation of Petroleum Exporting Countries (OPEC) reveals a significant discrepancy.
In his August 4 nationwide broadcast addressing issues raised by the #EndBadGovernance protesters, Tinubu asserted that Nigeria’s crude oil production had surged to 1.6 million barrels per day, attributing this to reforms introduced by his administration.
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“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,” Tinubu stated. He went on to claim that, “Last month, we increased our oil production to 1.61 million barrels per day, and our gas assets are receiving the attention they deserve.”
However, OPEC’s data, which is often consistent with the figures provided by Nigeria’s own regulatory bodies, tells a different story.
According to OPEC, Nigeria’s crude oil production in July 2024, the month referenced by Tinubu, stood at just 1.3 million barrels per day based on both direct communication and secondary sources. This figure is significantly lower—by approximately 300,000 barrels per day—than the 1.6 million barrels per day claimed by the President.
The OPEC data further shows that Nigeria’s oil production has not reached the 1.4 million barrels per day mark it achieved earlier in January 2024, based on records from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
For instance, in May 2024, OPEC and NUPRC both reported Nigeria’s oil production at 1.25 million barrels per day, and in June 2024, the production was recorded at 1.27 million barrels per day, again showing consistency between OPEC and NUPRC data.
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This raises questions about the accuracy of the figures President Tinubu presented during his address. The source of the data he cited remains unclear, leading to concerns that Nigerians may have been misled about the actual state of the country’s oil production.
