Act 1
At a workhouse in Dunstable, England, the governors hold a sumptuous banquet while the orphans are served their daily gruel and dream of enjoying ("Food, Glorious Food"). Forced by some of the other boys, who draw lots, where the tangled one falls on Oliver, Oliver approaches Mr. Bumble and the Widow Corney, and asks for more to eat. Enraged, Bumble takes Oliver to the governors for punishment ("Oliver!"). Paraded in the street to be sold to the highest bidder ("Boy for Sale"), Oliver is purchased by an undertaker. When his apprentice insults Oliver's dead mother, Oliver attacks him and is thrown by the undertakers into a coffin, until Mr. Bumble arrives to explain to them that Oliver should have been fed gruel instead of meat. Mr. Bumble grabs Oliver out of the casket and throws him into the cellar. Alone in the dark, surrounded by empty coffins, Oliver wonders ("Where Is Love?") before escaping through a window grate.
After a week on the road, Oliver reaches London. He meets the Artful Dodger, who takes him under his wing ("Consider Yourself"). Dodger brings Oliver to a hideout for young pickpockets led by Fagin, who instructs the gang in the art of stealing, declaring that ("You've Got to Pick a Pocket or Two") to get by. Fagin later meets with Bill Sikes, a burglar. Sikes's girlfriend, Nancy, ponders her life ("It's a Fine Life"). When Fagin returns to his den, he opens up a secret wall where the box of valuables are kept, talking to an owl, until Oliver wakes up, startling Fagin, who falsely explains to Oliver that his treasures were for his old age.
In the morning, Nancy and her friend Bet arrive at the hideout to collect Sikes's money. The boys mock Oliver for his manners, which Nancy finds charming. Dodger attempts to be just as gentlemanly ("I'd Do Anything"). Fagin sends the boys out for the day, entrusting Oliver to Dodger ("Be Back Soon"). Dodger steals a wallet from Mr. Brownlow, but Oliver is apprehended instead. Fearing Oliver will lead the police to the gang, Fagin and Sikes send Nancy to court. Oliver is too terrified to speak, but before the verdict is finalized, a witness named Mr. Jessop, the owner of the bookseller, arrives and proclaims Oliver's innocence. Brownlow takes Oliver in, while Sikes and Fagin send Dodger to follow them, to Nancy's displeasure.
Act 2
Oliver wakes up in Mr. Brownlow's house, and happily watches from his balcony the merchants and inhabitants of Bloomsbury Square singing about this particular morning being so beautiful ("Who Will Buy"). Meanwhile, Fagin and Bill decide to abduct Oliver and bring him back to the den with Nancy's help. Nancy, who has come to care for Oliver, at first refuses to help, but Bill physically abuses her, forcing her into obedience. In spite of this, Nancy still loves Bill, and believes he loves her too ("As Long as He Needs Me").
The next morning at Mr. Brownlow's house in Bloomsbury, Mr. Brownlow sends Oliver to return some books, with a five-pound note, to the booksellers. Before he departs, Oliver notices a portrait painting of a beautiful young girl. Mr Brownlow notes Oliver's similar looks to the lady, his niece who disappeared years ago. He begins to suspect he may be Oliver's grandpa!
As Oliver stops to enjoy a puppet show with other children, Nancy and Bill appear and grab Oliver. They bring him back to Fagin's den, where Sikes quarrels and demands from Fagin, to have the five pound note, for all of the trouble Sikes went through to kidnap Oliver, while Fagin keeps the books. After Oliver slaps Sikes, Sikes is about to hit him with a belt, until Nancy saves Oliver from a beating from Sikes after the boy tries to flee. Nancy remorsefully reviews their life, but Bill maintains that any living is better than none. Fagin tries to act as an intermediary, suggesting to Sikes to calmly sit and talk things out, however, Sikes takes Fagin by the scruff of his neck, warning him that if anyone led the authorities to their hideout, Sikes would kill Fagin. At this instant, Fagin declares Sikes to be a violent man. Left alone, Fagin wonders what his life might be like if he became an honest man ("Reviewing the Situation"); however, after thinking of various excuses, he elects to remain a thief.
Bumble and Corney pay a visit to Brownlow after he begins searching for Oliver's origin. They present a locket belonging to Oliver's mother, who arrived at the workhouse penniless and died during childbirth. Brownlow recognizes the locket as his niece's and throws the two out, enraged that they selfishly chose to keep the trinket and information to themselves until they could collect a reward for it. Meanwhile, in an attempt to introduce Oliver to a life of crime, Sikes forces Oliver to take part in a house robbery. The robbery fails when Oliver accidentally awakens the occupants, but he and Sikes get away. While Sikes and Oliver are gone, Nancy, fearful for Oliver's life, goes to Brownlow, confessing her part in Oliver's kidnapping, however, she refuses to state the name of Fagin or Bill Sikes for her own protection. She promises to return him to Brownlow at midnight at London Bridge She then goes to the tavern. When Sikes and Oliver appear, Sikes orders his dog Bullseye to guard the boy. Nancy starts up a lively drinking song ("Oom-Pah-Pah") , hoping that the noise will distract Sikes. Bullseye, however, alerts Sikes, who gives chase.
As Oliver and Nancy share a farewell embrace at London Bridge, Sikes catches up and grabs both of them and throws Oliver aside. Nancy then tries to pull Sikes away, angering him. He then drags her behind the staircase of London Bridge and violently bludgeons her, injuring her fatally. He then takes off with Oliver, but Bullseye returns to the scene where Nancy has succumbed to her injuring and alerts the police. The dog leads Brownlow and an angry mob to the thieves' hideout. Sikes arrives at Fagin's den and demands money, revealing that he killed Nancy as well. Upon seeing the approaching mob, the thieves disband and flee. Sikes runs off with Oliver, using him as a hostage. During the evacuation, Fagin loses his prized possessions, which sink into mud. Sikes attempts to flee to an adjacent roof, but is shot dead in the process by the police. Fagin makes up his mind to change his ways for good. Just as he is about to walk away a reformed character, Dodger appears from nowhere with a wallet he stole earlier. They dance off into the sunrise together, happily determined to live out the rest of their days as thieves ("Reviewing the situation reprise") while Oliver returns to Brownlow's home for good.
Ron Moody as Fagin
Mark Lester as Oliver Twist
Jack Wild as Master Dodger
Joseph O'Conor as Mr. Brownlow
Megs Jenkins as Mrs. Bedwin
Oliver Reed as Bill Sykes
Shani Wallis as Nancy