FG to Oil Firms: Nigeria must raise production to 3m barrels per day

— Local content rises to 61%, says NCDMB

By Obas Esiedesa, Abuja

The Federal Government has called on oil companies operating in Nigeria to fast-track project sanctions and ramp up field development, insisting that the country must significantly increase crude oil production to boost the economy and remain competitive in the global energy market.

Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the appeal on Tuesday in his ministerial address at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State. The 14th edition of the event has the theme: “Industry Stakeholders to Advance Nigerian Content Implementation.”

Lokpobiri said the industry must seize the opportunity presented by renewed global acceptance of hydrocarbons by increasing output. He stressed that Nigeria is “open, ready and determined” to attract new investments, adding that improved regulatory alignment among NUPRC, NMDPRA and NCDMB is restoring investor confidence.

He emphasised that while government has provided a stable policy and regulatory environment, operators must demonstrate seriousness by approving and executing projects.

“EPCs will not mobilise on promises; they need actual projects. Without approved field-development plans, credible drilling schedules and firm capital commitments, contractors will not take us seriously,” he said.

The Minister welcomed the ongoing 2025 licensing round offering 50 oil blocks but warned that only technically and financially capable bidders should participate. He noted that the era of acquiring oil licences and leaving them idle “like souvenirs” was over.

“We need real field activity, accelerated development and operations on all available assets. Nigeria must produce more oil, efficiently and sustainably,” he added.

Lokpobiri said the government is tackling security challenges, speeding up approvals, reviving stalled projects and investing in evacuation infrastructure to support production growth. Every additional barrel, he noted, strengthens the economy and creates jobs.

On local content, he said Nigeria was moving from basic participation to global competitiveness through stricter compliance, improved monitoring and disciplined funding for service companies. He urged operators, EPC contractors, host communities and financial institutions to move from “conversation to commitment” to achieve national energy and economic targets.

“We have the resources, we have the expertise, and we have the determination. Together, we will build the energy future Nigeria deserves,” he added.

Also speaking, Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, said the Petroleum Industry Act has created a fully liberalised and investment-driven midstream and downstream gas sector. He highlighted major ongoing gas infrastructure projects such as the AKK and OB3 pipelines, the Trans-Saharan and Trans-Atlantic gas initiatives, West African Gas Pipeline expansions, and the Nigeria–Equatorial Guinea Gas Pipeline Project. Nigeria, he said, is also discussing new interconnections with Libya to deepen regional gas integration.

Special Adviser to the President on Energy, Olu Verheijen, reaffirmed the administration’s target of raising crude oil production to three million barrels per day.

Earlier, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Ogbe, announced that Nigerian content levels in projects monitored by the Board had risen from 56 to 61 percent. He said the Project 100 initiative launched in 2019 would be fully implemented and concluded by April 2026, after which a new set of beneficiaries would be selected.

“Between Q1 and Q2 2026, the Board will review our seven current guidelines. We will also finalise the legal and fiscal framework for the Nigerian Oil and Gas Park Scheme (NOGAPS) to enable the commencement of operations at the Odukpani and Emeyal 1 parks,” he said.

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