FG Seeks Urgent Production Boost As Oil Prices Rise

The Federal Government has called on oil operators to immediately scale up production to take advantage of rising global crude oil prices.

Minister of State for Petroleum Resources, Heineken Lokpobiri, made the appeal on Tuesday during the Cross Industry Group (CIG) forum in London.

He described Nigeria as a prime destination for oil and gas investments, noting that the country is well-positioned to help address emerging global supply gaps.

Lokpobiri urged operators to focus on quick-win strategies such as re-entry programmes and in-field well development to increase output rapidly.

According to him, the current global market dynamics present a short-term opportunity that stakeholders must collectively maximise.

Nigeria’s crude oil production rose to 1.459 million barrels per day (bpd) in January 2026, up from 1.422 million bpd recorded in December 2025. Despite retaining its position as Africa’s top producer, output has remained below the 1.5 million bpd quota set by the Organization of the Petroleum Exporting Countries for six consecutive months.

In February, production fluctuated between 1.31 million and 1.46 million bpd due to ongoing challenges such as oil theft, pipeline vandalism, and underinvestment in the Niger Delta. This remains significantly below the government’s target of 2 million bpd.

The minister also highlighted Nigeria’s investor-friendly environment, citing a stable regulatory framework and strong collaboration between government agencies and the Oil Producers Trade Section (OPTS). He added that recent executive orders and targeted incentives are already stimulating growth in the sector.

Lokpobiri further urged oil companies to respond with increased Final Investment Decisions (FIDs), stressing the need to boost investor confidence and sustain momentum in the industry.