Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources, has called on the Nigerian National Petroleum Company Limited (NNPCL) to significantly increase oil production by the end of the year.
During an interview at the Africa Energy Forum in Houston, Texas, he revealed that the country’s oil production target had been raised from 2 million barrels per day (bpd) to 2.5 million bpd, following a directive from the Federal Government.Heineken Lokpobiri emphasized the need for accelerated growth in Nigeria’s oil output, noting that the production target had been raised from 2 million barrels per day (bpd) to 2.5 million bpd. He affirmed that the new target is achievable, pointing out that Nigeria had previously reached that level during the COVID-19 pandemic despite low investment.
Lokpobiri also highlighted the “Drill or Drop” policy under the Petroleum Industry Act, which requires new drilling to replenish reserves. He encouraged global investors to take advantage of Nigeria’s improved regulatory environment and competitive fiscal terms, positioning the country as a top energy investment destination.At the Africa Energy Forum, Mrs. Jumoke Oyedun, Managing Director of ACME Multech Services Nigeria, highlighted the forum as a key platform to assess opportunities and challenges in Africa’s oil and gas sector.
She stressed the need to attract investment in both traditional and renewable energy sources and emphasized the importance of balancing energy transition with the use of oil, gas, and green minerals for sustainable growth. Oyedun also noted that shifts in U.S. energy policy could impact investments and urged African leaders to plan accordingly. The forum brought together officials from various African countries to discuss the continent’s energy future.
