{"id":9180,"date":"2026-11-04T17:16:52","date_gmt":"2026-11-04T17:16:52","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/04\/nigerian-navy-operations-crude-oil-earnings-to-9-39bn-in-q2-2026-says-defence-chief-businessday-ng\/"},"modified":"2026-11-04T17:16:52","modified_gmt":"2026-11-04T17:16:52","slug":"nigerian-navy-operations-crude-oil-earnings-to-9-39bn-in-q2-2026-says-defence-chief-businessday-ng","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/04\/nigerian-navy-operations-crude-oil-earnings-to-9-39bn-in-q2-2026-says-defence-chief-businessday-ng\/","title":{"rendered":"Nigerian Navy operations crude oil earnings to $9.39bn in Q2 2026, says Defence Chief\u00a0 – Businessday NG"},"content":{"rendered":"

The Nigerian Navy\u2019s intensified operations against crude oil theft, pipeline vandalism and other maritime crimes have contributed to improved crude oil production and increased government revenue, with Nigeria\u2019s crude oil earnings rising by 15.78 per cent to $9.39 billion in the second quarter of 2026.\n<\/p>\n

Olufemi Oluyede, Chief of Defence Staff (CDS), disclosed this at the opening of the Chief of Naval Staff (CNS) Annual Retreat 2026, themed \u201cAppraisal of Nigerian Navy Commands for Enhanced Operational Effectiveness\u201d.\n<\/p>\n

Oluyede attributed the improvement in crude oil production and earnings to the Navy\u2019s enhanced presence in Nigerian waters and intelligence-driven operations, which he said had significantly reduced pipeline vandalism and crude oil theft.\n<\/p>\n

According to him, the Navy\u2019s sustained enforcement efforts have contributed to greater stability in oil production and improved revenue generation, with crude oil output increasing from an average of 1.4 million barrels per day in October 2025 to 1.84 million barrels per day in September 2026.\n<\/p>\n

He described the output level as Nigeria\u2019s highest sustained production since April 2020.<\/p>\n

The CDS said the increase in production translated into higher crude oil earnings, which rose from $8.11 billion in the first quarter of 2026 to $9.39 billion in the second quarter, representing a 15.78 per cent increase.\n<\/p>\n

He commended the Nigerian Navy for its contributions to joint military operations across the country, particularly its collaboration with the Nigerian Army and Nigerian Air Force in addressing terrorism and other security threats.\n<\/p>\n

Oluyede said the Navy\u2019s strategic deployments and participation in joint operations had helped secure critical waterways, disrupt criminal logistics networks and neutralise insurgent elements.\n<\/p>\n

He specifically highlighted the role of the Navy\u2019s elite Special Boat Service in the rescue of kidnapped students and teachers in Orire town, Oyo State, in July 2026, after the victims had spent 56 days in captivity.\n<\/p>\n

According to him, the operation demonstrated the Navy\u2019s tactical capabilities and dealt a decisive blow to criminal activities.<\/p>\n

\u201cThrough strategic deployments and collaborative joint operations, your forces have contributed in securing critical waterways, disrupting criminal logistics routes, and neutralising insurgent elements.\n<\/p>\n

\u201cSpecifically, the elite Special Boat Service of the Navy demonstrated tactical precision in the rescue of the kidnapped students and teachers at Orire town in Oyo State in July 2026 after 56 days in captivity, dealing a decisive blow to criminality,\u201d he said.\n<\/p>\n

The CDS also praised the Navy for its response to the Nigerian Air Force ATR-42 aircraft crash at Igbokoda, Ondo State, noting that the swift deployment of personnel and specialised equipment to the difficult swamp terrain reflected the Service\u2019s operational readiness.\n<\/p>\n

He said the Navy\u2019s intervention in the rescue mission at the crash site demonstrated its capacity to protect lives and respond to emergencies across challenging terrains.\n<\/p>\n

\u201cFurthermore, the swift deployment of your personnel and specialized equipment to the treacherous Igbokoda swamp for rescue mission at the crash site of the ill-fated Nigerian Airforce ATR-42 aircraft also reflects the Service profound readiness to protect Nigerian lives across all terrains,\u201d he said.<\/p>\n

Idi Abbas, Chief of Naval Staff, said the annual retreat provided an opportunity for the Navy to assess its operational performance, review progress and establish priorities for the coming year.\n<\/p>\n

He said the gathering would also enable the Service to examine its institutional capabilities and ensure that its activities remained consistent with its constitutional mandate.\n<\/p>\n

\u201cThe gathering provides an opportunity to review operational performance, evaluate progress and chart a clear course for the coming year.\n<\/p>\n

\u201cMore importantly, it allows us to reflect on our institutional capabilities and ensure that our activities remain aligned with the constitutional mandate of the Nigerian Navy,\u201d Abbas said.\n<\/p>\n

The naval chief said the retreat was expected to go beyond reviewing the Service\u2019s activities in the past year by establishing a clear strategic direction for the next operational year.<\/p>\n

He explained that the Navy\u2019s priorities and operational plans would be shaped by emerging security threats and aligned with the Federal Government\u2019s strategic direction.\n<\/p>\n

Abbas specifically identified the National Threat Assessment and the Five-Year National Defence and Security Operations Plan, which is being finalised, as key frameworks that would guide the Service\u2019s operational planning.\n<\/p>\n

He said the Navy\u2019s deliberations and plans must reflect prevailing security conditions, emerging threats and operational requirements.\n<\/p>\n

\u201cOur priorities and operational plans must be informed by emerging security threats and aligned with the strategic direction of the Federal Government, particularly the National Threat Assessment and the Five-Year National Defence and Security Operations Plan, which is currently being finalised.\n<\/p>\n

\u201cIn this regard, our plans and deliberations must reflect prevailing security realities, emerging threats and operational requirements,\u201d he said.<\/p>\n

\n

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Source: <\/p>\n

Businessday NG<\/div>\n","protected":false},"excerpt":{"rendered":"

The Nigerian Navy\u2019s intensified operations against crude oil theft, pipeline vandalism and other maritime crimes have contributed to improved crude oil production and increased government revenue, with Nigeria\u2019s crude oil… <\/p>\n","protected":false},"author":1,"featured_media":9181,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=9180"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/9180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/9181"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=9180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=9180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=9180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}