Nigeria Demands Concrete Action from Oil Majors as 2.5mbpd Output Target Looms
SAMUEL MOBOLAJI
Nigeria is intensifying its push for measurable growth in crude oil production, urging international oil companies and indigenous operators to move beyond pledges and deliver tangible results as the country targets an ambitious output of 2.5 million barrels per day by 2027.
The call comes against the backdrop of persistent underperformance, with average daily production in 2025 standing at just 1.6 million barrels per day, well below the budget benchmark of 2.06 million barrels per day.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, delivered the charge at the close of a panel session during the 2026 Nigerian International Energy Summit in Abuja.
He stressed that while the Federal Government has taken deliberate steps to create an enabling environment through reforms, incentives, and regulatory adjustments, the responsibility now lies with producers to translate commitments into measurable output growth.
Lokpobiri underscored the centrality of the upstream sector to Nigeria’s economic fortunes, noting that the nation’s foreign exchange earnings remain heavily reliant on crude oil.
“If we do not produce crude oil, there will be nothing to refine and nothing to distribute. The success of the petroleum sector, therefore, begins with the success of the upstream,” he said, highlighting the interconnectedness of upstream, midstream, and downstream activities.
He further emphasised that the Petroleum Industry Act provides a uniform legal framework for all operators, whether local or foreign, ensuring that companies of different scales are subject to the same regulations. “Our expectation is continued collaboration to strengthen the upstream sector for the benefit of all Nigerians,” he stated.
The minister reaffirmed the government’s commitment to sustaining reforms and tax incentives designed to unlock the sector’s full potential, but challenged industry players to reciprocate by investing more aggressively and ramping up production.
“We have provided extensive incentives through reforms, tax reliefs, and regulatory changes. The government has done a lot. The question now is what you will do in return. This is the time for industry players to invest, produce, and deliver results,” he declared.
Lokpobiri warned that Nigeria’s success or failure in the upstream sector would have ripple effects across Africa, strengthening or weakening midstream and downstream activities across the continent.
He concluded with a firm message that reflected growing impatience within government circles: “We have talked enough. This is the time for concrete action that will deliver measurable results and truly transform the industry.”
