The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has expressed confidence that the country can achieve crude oil production of 2.5 million barrels per day (bpd) by 2026, driven by renewed efforts to revive shut-in and dormant wells across the industry.
Speaking at the 2025 Energy Correspondents Association of Nigeria (ECAN) Conference in Abuja, themed "Four Years of the PIA: Achievements, Gaps and the Road Ahead," NUPRC Chief Executive, Gbenga Komolafe, said the commission's "Project One Million Barrels" initiative—launched in 2024—has already gained momentum, with unreconciled production currently averaging 1.7–1.83 million bpd.
Komolafe, represented by the Head of Regulatory and Statutory Compliance, Kingston Chikwendu, said the commission has approved 37 new crude evacuation routes and deepened collaboration with security agencies, significantly reducing theft and improving accountability.
He added that enforcing the Domestic Crude Supply Obligation (DCSO) is helping provide steady feedstock to local refineries, strengthening domestic supply chains and enhancing economic resilience.
Beyond production, Komolafe stated that NUPRC is also prioritising environmental responsibility, targeting a 60% reduction in methane emissions by 2031. This aligns with Nigeria's gas-centric transition strategy anchored on the Decade of Gas, the Nigerian Gas Flare Commercialisation Programme (NGFCP), and the Presidential CNG Initiative.
He noted that with Nigeria holding about 30% of Africa's oil reserves and 34% of its gas reserves, the country must balance resource development with climate obligations. The commission is also opening new exploration frontiers through recent bid rounds, which have recorded strong investor interest due to improved regulatory certainty and data availability.
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Meanwhile, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said it has implemented major reforms in the past four years, including the gazetting of 18 regulations and the automation of several processes to improve efficiency.
NMDPRA Chief Executive, Farouk Ahmed, represented by spokesman George Ene-Ita, said crude supply to domestic refineries has risen from 20,000 bpd in 2023 to more than 40,000 bpd in 2025, while petrol supply from local refineries increased from 1.3 billion litres in 2024 to 3.8 billion litres in 2025.
He added that the Midstream and Downstream Gas Infrastructure Fund (MDGIF) has invested over N287 billion in gas infrastructure projects, catalysing an additional $500 million through partnerships, including the Afreximbank MoU.
Industry stakeholders also stressed the need for stronger institutional capacity. The Major Energy Marketers Association of Nigeria (MEMAN) urged government agencies to streamline processes, enhance competition, enforce transparency, and eliminate bureaucratic delays to boost investor confidence.
Minister of State for Petroleum (Gas), Ekperikpe Ekpo, represented by Ruth Mela-Nunghe, said the conference offered an opportunity to reassess PIA implementation, bridge remaining gaps, and deepen Nigeria's pathway toward sustainable energy development.
Earlier, ECAN Chairman, John Ofikhenua, said the PIA has improved transparency and restored confidence in Nigeria's oil and gas sector but noted that continuous adaptation is needed as global energy trends evolve.
