Nigeria’s oil production now 1.745 million barrels per day – Minister
Mr Lokpobiri said that the production target in the 2025 budget was 2.06 million bpd, adding that the country must ramp up production to hit two million. “I urge the Nigerian National Petroleum Company Limited (NNPC Ltd.) to change its target ambition to producing above two million barrels by 2025,” he said. He said that through the “Decade of Gas” initiative, the country was focused on translating its vast gas wealth into tangible socio-economic benefits. The federal government says Nigeria is currently producing about 1.745 million barrels of crude oil per day (bpd), aiming to hit two million bpd by the end of 2025. This, he said, included driving industrialisation, expanding power generation, increasing domestic Liquefied Petroleum Gas (LPG) usage, deepening gas-to-transport adoption, and growing gas export capacity. SUPPORT NOW x Do this later He said that from 2023, the narratives changed and investments were recorded as a result of deliberate policies and reforms that worked, and an absolute increase in investors’ confidence in Nigeria. Also speaking, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, said that Nigeria had proven gas reserves of over 200 trillion cubic feet.
