The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission, has announced plans to significantly increase oil production by one million barrels per day over the next 12 to 24 months, with the aim of enhancing the country’s energy output and contributing to economic growth.
The initiative seeks to boost current oil production capacity from 1.6 million to 2.6 million barrels per day by 2026.
The Chief Executive Officer, Gbenga Komolafe, stated this during an event celebrating the third anniversary of the commission’s establishment on Monday in Abuja.
He highlighted that the project represents a collaborative industry-wide initiative, designed to develop solutions that will unlock additional oil production in both the short and medium term. He also called for the support of all stakeholders.
