Oil Production: National Assembly Backs NNPC Ltd, Eyes Tougher Measures Against Theft

Oil Production: National Assembly Backs NNPC Ltd, Eyes Tougher Measures Against Theft

In a recent oversight visit to NNPC Limited’s Upstream Investment Management Services (NUIMS) headquarters in Lagos, the National Assembly’s Joint Committee on Petroleum Resources (Upstream) reaffirmed its support for enhancing Nigeria’s crude oil production. Led by Senator Eteng Jonah Williams and Hon. Alhassan Ado Doguwa, the committee emphasized the critical need to combat crude oil theft and vandalism of vital hydrocarbon infrastructure.

During the visit, Senator Williams underscored the legislative imperative to enact laws that effectively curb oil theft and boost Nigeria’s oil sector performance. Hon. Alhassan Doguwa echoed these sentiments, highlighting the legislative commitment to expedite the strengthening of regulatory frameworks aimed at securing Nigeria’s oil and gas assets.

Mr. Bala Wunti, Chief Upstream Investment Officer of NNPC Ltd, commended the National Assembly for its ongoing support and outlined NUIMS’ role in maximizing Nigeria’s upstream investments. He stressed the importance of legislative collaboration in achieving production targets and ensuring economic growth.

The legislators pledged to adopt a robust approach—balancing incentives with stringent penalties—to safeguard Nigeria’s economic interests against threats to its hydrocarbon resources.