Nigeria has recorded a significant milestone in its oil industry, with crude oil output surpassing 1.7 million barrels per day on multiple occasions this year.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed the figures, confirming that the country is steadily moving toward its long-term production goals.
The Oil & Gas Governance Reform Alliance (OGRA) praised the development, calling it a “historic turnaround” for the sector.
In a statement on Wednesday (today), OGRA’s Executive Director, Dr Ibrahim Kalango, said the increase marks “a decisive break from years of stagnation, operational setbacks and investor hesitation.”
“The NUPRC has demonstrated that Nigeria’s production capacity was never the issue. What was lacking was regulatory leadership, operational focus, and the courage to enforce discipline across the value chain. Over the last year, under Engr. Gbenga Komolafe, the Commission has begun to stabilise an industry long defined by uncertainty,” the statement reads.
OGRA highlighted that recent improvements, including rising rig activity, renewed investor confidence, multi-billion-dollar final investment decisions, and the approval of field development plans valued at about $20 billion over the past ten months, show that upstream reforms are finally producing results.
“Exceeding 1.7 million barrels per day multiple times is not just a statistical milestone. It is evidence that Nigeria is regaining the confidence of producers and investors. For the first time in years, the 2.5 million barrels per day target is not aspirational rhetoric. It is attainable,” Kalango said.
The coalition noted that Nigeria’s near-70 rig count this year, with over 40 rigs currently active, represents the strongest upstream activity in nearly a decade.
It reflects a shift in investor sentiment and growing confidence in the country’s oil sector.
OGRA also welcomed the NUPRC’s announcement of a new oil licensing round, scheduled for December 1, 2025, describing it as “a proactive step that positions Nigeria to consolidate its reserve base, attract fresh capital, and compete effectively in a global industry undergoing rapid transformation.”
“Predictable bid rounds, transparent processes, and regulatory certainty are essential to sustaining the momentum already established,” the group said.
The coalition stressed that accurate reporting and consistent national messaging are crucial in shaping investor perception. Confidence in Nigeria’s upstream sector depends not only on geology and policy but also on how progress is communicated.
OGRA urged the Commission to continue its reform efforts, emphasising that the recent gains prove the petroleum sector can still deliver transformative value under strong leadership.
© 2025 Naijaonpoint, a division of NOP Media Inc. Contact us via [email protected]