Nigeria Targets 2.5mbpd Oil Output by 2026 – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reaffirmed that the country is on course to raise crude oil production to 2.5 million barrels per day (mbpd) by 2026.
NUPRC Chief Executive, Mr. Gbenga Komolafe, disclosed this in Abuja at the 4th PENGASSAN Labour Summit (PEALS 2025), themed “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investment and Incremental Production.”
He noted that output had risen from 1.46 mbpd in October 2024 to 1.8 mbpd in recent months, crediting reforms under the Petroleum Industry Act (PIA) for streamlining contracting processes, reducing risks, and attracting fresh investments.
Komolafe also highlighted the agency’s focus on deepwater exploration, reviving dormant fields, and deploying enhanced recovery methods. He referenced a recent Deepwater Stakeholders’ Workshop, which explored unlocking more than 810,000 bpd in additional production.
According to him, the commission’s cluster development model aims to lower costs, maximise infrastructure use, and restore investor confidence. On sustainability, he said the Upstream Decarbonisation Framework seeks to end routine gas flaring by 2030 and reduce methane emissions by 60% before 2031.
Nigeria’s estimated 210 trillion cubic feet of gas reserves, he stressed, would be crucial to supporting the country’s energy transition. He urged stronger collaboration between industry players, government, and labour unions to sustain progress.
Also speaking at the event, ExxonMobil’s Managing Director, Mr. Jagie Baxi, said boosting Nigeria’s production requires balancing geology, cost, risk, and reward. He warned of natural output declines of about 15% annually in deepwater operations, while high drilling costs continue to discourage investment.
Baxi called for risk-sensitive incentives to maintain investor confidence and stressed the importance of collaboration to resolve disputes and revive underperforming oil fields.
