Nigeria’s oil and gas industry players have mapped out a coordinated strategy aimed at pushing crude production to 3 million barrels per day, with strong emphasis on policy reforms, investment inflows, digital tools, and improved infrastructure across the entire value chain.
At the 26th Oloibiri Lecture Series and Energy Forum in Abuja, the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Oritsemeyiwa Eyesan, said the target remains achievable under the current policy direction. She explained that the plan builds on an interim goal of 2 million barrels per day by 2027, supported by systems that attract investment and encourage modern, technology driven operations.
She noted that the Petroleum Industry Act of 2021 has reshaped the upstream sector by introducing clearer rules, improved transparency, and stronger performance standards. According to her, this has helped restore investor confidence and unlock key projects such as Bonga North, Ubeta, and HI developments, which together have attracted more than 10 billion dollars in investment.
Eyesan also pointed to digital transformation as a key driver for higher output. She explained that technologies such as real time data monitoring, predictive maintenance, and advanced analytics would help operators reduce costs, limit downtime, and improve efficiency. She further stressed the importance of improved oil recovery techniques, noting that new performance based systems now push operators to maximise output from existing reservoirs.
She added that in today’s investment climate, efficiency is everything, stressing that every barrel now carries greater value in a more disciplined global market.
On his part, the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Saidu Mohammed, said Nigeria’s production ambition must go hand in hand with stronger gas development and midstream infrastructure. He explained that the country is also targeting 22 billion cubic feet of gas per day under the Decade of Gas programme, adding that both oil and gas goals must progress together.
He noted that achieving these targets will require strong financing, modern technology, and a regulatory environment that attracts and retains investors. Mohammed also revealed plans to introduce Project NEXUS, a major initiative designed to reshape regulation, improve sustainability, and position Nigeria as a leading energy hub in Africa.
The project, he said, is backed by the Midstream and Downstream Petroleum Industry Sustainability Initiative, which focuses on reducing carbon emissions, supporting blue hydrogen development, and advancing carbon capture and storage technologies.
He further stressed that beyond upstream improvements, attention must also shift to large scale infrastructure projects capable of supporting higher output. This includes pipelines, gas processing plants, and expanded refining capacity, alongside efforts to repair and upgrade key transport networks across the midstream sector.
According to him, funding support is expected from initiatives such as the Midstream and Downstream Gas Infrastructure Fund, the Africa Energy Bank, and other green financing channels aimed at driving sector growth.
Both regulators agreed that Nigeria is well positioned to benefit from global energy shifts, with strong potential to meet domestic demand while expanding exports. They also emphasised that success will depend on consistent policies, close collaboration among stakeholders, and full implementation of reforms across upstream, midstream, and downstream operations.
The Managing Director of Seplat Onshore Limited, Ibi Ada Itotoi, also contributed to the discussion, noting that Nigeria would need to increase production by about 300,000 barrels per day annually to meet the 3 million barrels target by 2030. She expressed confidence that recent investment decisions across several projects would help support output growth.
Earlier, the Minister of State for Petroleum Resources Gas, Ekperikpe Ekpo, said Nigeria’s goal of sustained production growth cannot be achieved through isolated efforts. He stressed that progress depends on the combined impact of digitalisation, investment, and strong policy frameworks, adding that the future of the sector is increasingly driven by data and technology.
The Chairman of the SPE Nigeria Council, Francis Nwaochei, also highlighted the changing nature of the global energy space. He said industry players now operate in a more competitive environment where capital is selective and innovation is essential. According to him, unlocking value from existing assets through digital tools, disciplined financing, and responsive regulation will be key to Nigeria’s long term energy future.
