By Jemimah Wellington, JKNewsMedia Correspondent
CRUDE OIL production received renewed focus as authorities urged international and indigenous operators to move beyond pledges, targeting 2.5 million barrels per day by 2027.
The call comes after average daily production in 2025 reached just 1.6 million barrels, falling short of the budget benchmark of 2.06 million barrels per day.
JKNewsMedia.com reports that the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, delivered the charge at the close of a panel session during the 2026 Nigerian International Energy Summit in Abuja.
He said the Federal Government has created an enabling environment through reforms, incentives, and regulatory adjustments, but producers must now translate commitments into measurable growth.
Lokpobiri also stressed the centrality of the upstream sector to Nigeria’s economy, noting the nation’s foreign exchange earnings remain heavily reliant on crude oil.
“If we do not produce crude oil, there will be nothing to refine and nothing to distribute. The success of the petroleum sector, therefore, begins with the success of the upstream,” he said.
He highlighted that the Petroleum Industry Act provides a uniform legal framework for all operators, local and foreign, ensuring companies of different scales follow the same regulations.
“Our expectation is continued collaboration to strengthen the upstream sector for the benefit of all Nigerians,” he added.
The minister reaffirmed the government’s commitment to sustaining reforms and tax incentives designed to unlock the sector’s full potential, while challenging industry players to invest more aggressively and ramp up production.
“We have provided extensive incentives through reforms, tax reliefs, and regulatory changes.
“The government has done a lot. The question now is what you will do in return. This is the time for industry players to invest, produce, and deliver results,” he declared.
Lokpobiri also warned that Nigeria’s success or failure in the upstream sector would affect midstream and downstream activities across Africa.
He then concluded with a firm message: “We have talked enough. This is the time for concrete action that will deliver measurable results and truly transform the industry.”
