Nigeria successfully maintained its OPEC production quota for the fourth consecutive month in August 2026, as local operators take new investment decisions.
According to available data Nigeria recorded an average daily output of 1.68 million barrels of crude oil and condensates.
This follows sustainable growth among independent oil producers in recent time.
Indigenous oil producers now account for more than 60 per cent of the country’s total crude oil production.
This marks one of the biggest structural shifts in the history of the petroleum industry as local operators take control of assets previously dominated by international oil companies.
Just recently Ingentia Energies increased production by an impressive 150 percent, reflecting the success of the Company’s operational and growth strategies.
The Board of Directors of the firm lauded the outgoing Interim Managing Director and Chief Executive Officer, Engr. Charles Odita, for his transformational leadership, which has driven significant growth across the Company’s operations and positioned it for sustained long-term success.
The commendation came as Engr. Victor Agbaroji formally assumed office as Managing Director and Chief Executive Officer, succeeding Odita and outlining a strategic agenda focused on strengthening and moving Ingentia Energies further into the top percentile of key players in the oil and gas sector.
The chairman extended heartfelt congratulations and profound appreciation to Engr. Charles Odita noting his tenure as transformational, characterised by strategic clarity, decisive execution and exceptional leadership.
As he takes over the reins of leadership, Engr. Agbaroji expressed appreciation for the achievements recorded under Engr. Odita and pledged to build upon the solid foundation already established. He identified key priorities for the next phase of the Company’s growth, including enhancing drilling operations, maximizing the value of existing assets, improving cost competitiveness, expanding the Company’s portfolio, and unlocking greater value from the asset’s gas resources.
“Our immediate focus is to strengthen the next phase of our drilling campaign by leveraging the seismic acquisition programme currently underway. This will enable us to execute a more robust and efficient drilling programme while improving exploration outcomes and operational performance,” Engr. Agbaroji said.
He also highlighted the importance of crude oil evacuation infrastructure in supporting future production growth, noting that the Company would further intensify efforts to advance its pipeline evacuation project.
Engr. Agbaroji reaffirmed management’s commitment to sustaining the momentum achieved under Engr. Odita , emphasizing that the Company would continue to benefit from the experience and institutional knowledge developed during his tenure.
The leadership transition marks a significant chapter in the Company’s growth journey as it seeks to consolidate recent gains, expand production capacity, deepen operational efficiency, and strengthen its position as a leading indigenous energy company focused on delivering sustainable value to stakeholders.
Also, speaking recently at the 49th Nigeria Annual International Conference and Exhibition (NAICE) organised by the Society of Petroleum Engineers, Nigeria Council in Lagos, Chief Executive Officer of Heirs Energies, Osayande Igiehon, further affirmed that indigenous operators had become the driving force behind the country’s ambition to raise crude production to three million bpd by the end of the decade.
According to him, local companies accounted for only about 20 to 30 per cent of production before the COVID-19 pandemic but have since emerged as the dominant players in the sector.
He cited the performance of Heirs Energies, which assumed operational control of its assets in 2021 with production of 25,000 bpd but has since more than doubled output.
The transformation, driven by divestments, regulatory reforms and improvements in pipeline security, has also coincided with a recovery in national production, which climbed from about 700,000 barrels per day (bpd) in 2022 to approximately 1.7 million bpd.
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Chika Izuora is a journalist with Leadership Media Group with over two decades of mainstream journalism experience. A Mass Communication graduate and alumnus of Pan Atlantic University (PAU), he has built outstanding expertise in the oil and gas industry alongside a versatile career as a journalist and author.
