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Nigeria’s Minister of State for Petroleum, Heineken Lokpobori, is confident that the country’s target of producing 2.06 million barrels of crude oil per day (bpd) by 2025 is achievable.
According to Lokpobori, the 2025 budget is predicated on this target, and he assures Nigerians that it’s doable.
Currently, Nigeria is producing around 1.75 million bpd, which is an increase from the previous 1.5 million bpd. Lokpobori attributes this growth to the combined efforts of the military, paramilitary, and civilian contractors, which have led to fewer infractions in pipelines, fewer thefts, and less pipeline vandalism.
The government has also implemented reforms in the sector, including reducing bureaucracy and deploying technology to improve efficiency and reduce corruption.
President Bula Tinubu has provided strategic leadership for the oil and gas industry, and the government has changed the perception about Nigeria, attracting investments to the sector.
NAN reports that Nigeria’s oil production, including condensate, rose by four per cent Month-on-Month to 1.737 million barrels per day (bpd) in January compared to 1.667 million bpd recorded in December 2024.
On a year-on-year basis, output saw a 5.7 per cent increase, reaching 1.737 million bpd in January 2025, compared to 1.643 million bpd in the same period of 2024, according to the Nigerian Upstream Petroleum Regulatory Commission.
In its latest report on Crude Oil and Condensate Production, the NUPRC stated, “Lowest and peak production in January was 1.66 million bopd and 1.79 million bopd, respectively.
The average crude oil production was 103 per cent of the Organisation of Petroleum Exporting Countries quota (1.5 mbpd).
NUPRC said this indicates that Nigeria successfully met the OPEC production quota of 1.5 million barrels per day.
