KEY POINTS
- NUPRC says Nigeria can lift crude output to 1.9 million barrels a day.
- The country hit a peak of 1.86 million bpd in May as production rebounds.
- The regulator named infrastructure, asset integrity and human capacity as key constraints.
The Nigerian Upstream Petroleum Regulatory Commission has expressed confidence that Nigeria can raise crude oil production to 1.9 million barrels per day, after recent gains pushed output to a peak of 1.86 million bpd in May. The Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, disclosed this on Wednesday during a meeting with the Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji, in Abuja.
A sector back on a growth path
According to Eyesan, Nigeria’s oil industry has returned to a growth trajectory, and the country keeps ramping up production despite persistent challenges. “We are back to production. We are ramping up now, and we want to continue working,” she said.
Moreover, she identified the main obstacles to sustaining the gains. According to her, the sector must address infrastructure deficits and improve asset integrity to keep output rising. “We still recognise the constraints. Infrastructure and asset integrity are major constraints, but we will work on these,” she said. Furthermore, she stressed that the industry must build human capacity to match its growth ambitions, because expansion demands more skilled hands.
Closer ties with revenue agency
The NUPRC boss spoke during a meeting that aimed to strengthen collaboration between the commission and the Nigeria Revenue Service, in order to enhance transparency, accountability and efficiency in collecting oil and gas revenues. Notably, she commended the NRS leadership for reforms that produced the NRS Act, and she described the transition of revenue collection under the new framework as seamless.
In addition, Eyesan said the commission wants to create an enabling environment for investors and operators. “We are here to enable them, enable their businesses, ensure that they survive, and that they succeed. And we want to grow the pie because when you grow the pie, everybody benefits,” she said. She also noted that digitizing the commission’s operations had been a key priority since she assumed office, and she said the commission had largely achieved that goal.
Responding, Adedeji pledged continued collaboration to support revenue growth and ensure transparency in managing the country’s petroleum earnings. “It is in the interest of Nigeria that we work together to grow revenue for the country in a transparent manner for the good of Nigerians,” he said. Ultimately, both agencies framed their partnership as central to lifting output, widening revenue and rebuilding investor confidence in the oil sector.
