Ramp Up Production Now Amid Crude Price Surge, Lokpobiri Urges Oil Operators

The minister of state for Petroleum Resources, Sen. Heineken Lokpobiri, has challenged oil operators to ramp up production immediately to capitalise on soaring global crude prices.

Speaking at the Cross Industry Group (CIG) forum in London, England, on Tuesday, Lokpobiri positioned Nigeria as a prime investment hub in the oil and gas sector, well-equipped to bridge emerging supply gaps.

He called for quick-win initiatives like re-entry programmes and in-field well development to deliver fast output boosts.

“The current global situation presents a window of opportunity that we must collectively take advantage of in the short term,” Lokpobiri stated.

Nigeria’s crude output recently climbed to 1.459 million barrels per day (bpd) in January 2026 from 1.422 million bpd in December 2025, maintaining its status as Africa’s top producer despite falling short of its 1.5 million bpd OPEC quota for six straight months.

Production dipped to around 1.31-1.46 million bpd in February amid persistent oil theft, vandalism, and underinvestment challenges in the Niger Delta, well below ambitious targets of 2 million bpd.

The minister spotlighted Nigeria’s investor-friendly environment, including a predictable regulatory framework and strong ties between government agencies and the Oil Producers Trade Section (OPTS).

He noted that Executive Orders and targeted incentives are already building momentum, urging operators to reciprocate with more Final Investment Decisions (FIDs).

Lokpobiri aligned stakeholders on boosting investor confidence, reaffirming government’s commitment to strengthening the sector.