Oil Minister and Regulator Clash Over Nigeria’s Oil Production Targets
A rift has emerged between Nigeria’s Minister of State for Petroleum Resources, Heineken Lokpobiri, and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over the country’s oil production targets. While the NUPRC has set an ambitious goal of increasing oil output by an additional one million barrels per day (bpd) within the next two years, Lokpobiri insists this target is far too modest, calling for a more aggressive approach.
The NUPRC initiative, unveiled by its Chief Executive, GbengaKomolafe, aims to boost Nigeria’s oil production from 1.6 million bpd to 2.6 million bpd by 2026. At an event in Abuja celebrating the commission’s third anniversary, Komolafeemphasised the importance of collaboration across the sector to unlock new production capacity. He described the project as a key driver of energy security and economic resilience, encouraging industry stakeholders to rally behind the effort.
“The project is an industry collaborative initiative to create solutions to unlock incremental oil production in the short to medium term,” said Komolafe. “Our actions here today will be pivotal to production sustainability, energy security, and economic resilience, all in the overall national interest.”
However, Lokpobiri took issue with the NUPRC’s timeline and target, arguing that the country should aim for a much higher output. “The project of one million barrels in the next one to two years is unacceptable. Nigerians cannot wait another two years for us to add another million barrels,” the minister said. “I want industry players to think bigger—what can we do to improve production to four million barrels?”
Nigeria has long struggled to meet its production quotas set by the Organisation of Petroleum Exporting Countries (OPEC), often falling short of the 1.5 million bpd mark. Lokpobiri’sintervention signals frustration within the government that more radical action is needed to boost production and stimulate the nation’s faltering economy.
President Bola Tinubu, represented at the event by the Secretary to the Government of the Federation, George Akume, struck a more conciliatory tone, urging stakeholders to support the NUPRC’s one million bpd initiative. Tinubu framed the project as part of a broader national effort to boost government revenue, reduce poverty, and increase Nigeria’s Gross Domestic Product (GDP).
“These commitments will be critical in ensuring that we achieve incremental production in the next 12 months,” Tinubu said. “Growing not just production levels, but also increasing efficiency and competitiveness of our industries.”
The debate underscores the growing pressure on Nigeria’s oil sector to deliver more substantial results as the country grapples with economic challenges. Whether the industry can rise to meet the more ambitious targets remains to be seen, but the call for greater urgency and action is clear.
