Nigeria’s Capacity to Increase Oil Production is Within Reach — Minister
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has emphasized that Nigeria’s capacity to boost oil production is within reach. Speaking on Thursday, Lokpobiri expressed optimism that the Federal Government’s target for production increments would be realized through ongoing collaboration between security agencies and stakeholders.
Nigeria has been grappling with low oil production due to theft, pipeline vandalism, low investments, and poor infrastructure. Crude oil theft, in particular, has been a significant deterrent for producers. However, the minister is confident that current efforts will mitigate these challenges.
“Our capacity to increase production, including condensate, is within reach. With the ongoing collaboration of all security agencies and stakeholders, whom I have been actively engaging with, we are optimistic about actualizing this target,” said Lokpobiri.
He highlighted a recent gathering convened by the Chief of Defence Staff, General Christopher Gwabin Musa OFR, with the Security Heads of Operation Delta Safe and the Niger Delta Region, held at the Headquarters of the 6 Division Nigeria Army in Port Harcourt, Rivers State. “The synergy between these efforts and our strategic initiatives is pivotal in driving our national economic growth through enhanced crude production. The meeting underscored our commitment to bolstering security measures and curbing pipeline vandalism,” Lokpobiri added.
According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Oil Production Status Report, Nigeria’s average daily oil production, including condensate, in June was 1,500,199 barrels per day (bpd). This figure is below the country’s budget benchmark of approximately 1.7 million bpd.
