Nigeria’s rig count expected to reach 50 by end of 2025 – NUPRC says 

This disclosure was made by NUPRC Chief Executive, Gbenga Komolafe during the ongoing 2025 Nigeria International Energy Summit (NIES) on Wednesday in Abuja.

According to the commission, Nigeria’s rig count has grown significantly from eight in 2021 to 40 in 2025.

Komolafe further stated that crude oil production increased by 70 per cent from one million barrel per day (bpd) in 2021 to 1.75 million bpd in 2025.

“The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), says the country’s rig count will hit 50 by the end of 2025,” the source read in part.

He also highlighted that between 2023 and 2024, oil reserves increased by 1.43 per cent to 37.5 billion barrels, while gas reserves surged by 0.21 per cent, reaching 209.26 trillion cubic feet.

Komolafe explained that these milestones go beyond figures but are parameters for measuring the industry’s growing strength, driven by effective regulatory policies.

To achieve its target of 40 billion barrels of oil and 220 trillion cubic feet of gas reserves, the commission has carried out strategies to boost exploration and development.

He noted that this proactive approach enhances decision-making and drives strategic investments, positioning Nigeria’s oil and gas sector for long-term growth.

Discussing efforts to optimize production and bridge the gap, Komolafe described Nigeria’s vast oil reserves as a major opportunity for economic expansion and transformation.