- Nigeria’s oil production is projected to grow steadily, with the government targeting 2.5 million barrels per day by 2026.
- The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed that reforms and investments are already delivering measurable results.
At the PENGASSAN Energy and Labour Summit (PEALS) 2025 in Abuja, NUPRC Chief Executive Gbenga Komolafe outlined ongoing progress to achieving the 2.5 million barrels per day oil production target by 2026. He stated that the commission approved deep offshore development plans designed to unlock 810,000 barrels daily, with efforts put in, which had already increased production from 1.46 million barrels per day in October 2024 to 1.8 million currently.
In addition, the agency reactivated dormant oil fields, fast-tracked project approvals, and applied enhanced recovery techniques. As a result, Nigeria’s oil production has continued to rise steadily despite global headwinds.
Nigeria currently holds crude reserves of 37.28 billion barrels and gas reserves of 210.54 trillion cubic feet. The oil and gas industry contributes nearly 90% of export earnings and about 70% of government revenue. Therefore, Komolafe stressed that Nigeria must evolve from resource-rich to resource-efficient to strengthen its global competitiveness.
He explained that underinvestment, climate change, and the global energy transition remain major challenges. However, the government adopted a cluster and nodal development model to address them. This strategy uses shared infrastructure and connects projects to Floating Production Storage and Offloading (FPSO) units such as Bonga, Egina, and Agbami. Consequently, the approach reduces costs, lowers risks, and shortens project timelines.
Komolafe further emphasised the need for stronger collaboration among government, industry, labour, and host communities. He argued that transformational thinking will build resilience in the sector.
Supporting this view, Felix Ogbe, Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), said the energy transition demands a workforce skilled in digitalisation and automation. Represented by Kikile Esueme, he highlighted the importance of science, technology, engineering, and mathematics (STEM) education.
Finally, he added that vocational training must complement formal education to create a future-ready workforce. These efforts, he noted, will help sustain Nigeria’s oil production targets over the long term.