The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has announced that Nigeria is targeting a crude oil production output of 2.5 million barrels per day (mbpd) as part of ongoing efforts to strengthen the nation’s energy sector and drive economic growth.
The minister explained that the target reflects the Federal Government’s determination to increase production capacity, attract fresh investments, and maximise the value of Nigeria’s abundant hydrocarbon resources.
Furthermore, he noted that achieving higher production levels will support national revenue generation and enhance the country’s position in the global energy market.
Reforms Driving Growth in the Oil Sector
Lokpobiri stated that ongoing reforms and strategic policy implementation are creating a more attractive environment for investment and operational efficiency across the petroleum industry.
He observed that improved collaboration between government agencies and industry stakeholders is helping to remove bottlenecks, encourage exploration activities, and expand production across existing and new oil assets.
In addition, the government remains focused on implementing policies that promote transparency, regulatory stability, and long-term sustainability within the sector.
Strengthening Nigeria’s Energy Leadership
According to the minister, increasing crude oil production is essential for reinforcing Nigeria’s position as one of Africa’s leading oil-producing nations.
He emphasized that expanding production capacity will not only improve export earnings but also strengthen the country’s ability to meet growing domestic and international energy demands.
Moreover, enhanced production is expected to support broader economic activities by stimulating investment, industrial growth, and infrastructure development.
Supporting Economic Development
Lokpobiri noted that the oil and gas industry continues to play a critical role in Nigeria’s economy through revenue generation, foreign exchange earnings, and employment creation.
He explained that reaching the 2.5 million barrels per day target would contribute significantly to national development by increasing government revenues available for infrastructure, healthcare, education, and other priority sectors.
The minister also highlighted the importance of local content development and technology transfer in ensuring that the benefits of increased production reach Nigerian businesses and communities.
Collaboration Key to Achieving the Target
The minister stressed that achieving the production target will require sustained collaboration between government institutions, regulatory agencies, international oil companies, indigenous operators, and host communities.
He called on all stakeholders to support initiatives aimed at improving operational efficiency, protecting oil infrastructure, and creating a stable environment for investment and production activities.
Such cooperation, he said, will be essential for unlocking the full potential of Nigeria’s petroleum resources.
Building a Stronger Energy Future
Nigeria’s target of producing 2.5 million barrels of crude oil per day reflects the government’s broader ambition to strengthen the petroleum sector as a key driver of economic growth and national development.
With continued reforms, increased investment, and stronger collaboration across the industry, the country aims to expand production, enhance energy security, and reinforce its status as a leading player in Africa’s oil and gas industry.
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