• Minister pushes for aggressive exploration, seeks reserves expansion
•Says past administrations failed to undertake major seismic studies
Emmanuel Addeh in Abuja
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, yesterday said that Nigeria’s crude and condensate production has risen by about 80 per cent since President Bola Tinubu assumed office in May 2023, recalling that it was barely 1 million barrels per day three years ago.
Lokpobiri also charged officials of the ministry to develop a clear framework for expanding Nigeria’s hydrocarbon reserves through aggressive exploration and data-driven investment strategies.
Speaking at the ministry’s 2026 Ministerial Retreat in Abuja, themed: “Driving Institutional Performance and Accountability in the Nigerian Petroleum Sector for Sustainable National Development,” Lokpobiri stated that oil and condensate production has now jumped to about 1.8 million bpd.
Admitting that the sector was not where it ought to be yet, far from the 2.5 million bpd production target, the oil minister explained that Nigeria has only explored a fraction of its oil and gas potential despite possessing vast hydrocarbon resources.
“When I was appointed, I was given the mandate to go and ensure we ramp up production. And at that time our production was barely about a million barrels. Today, we are doing approximately 1.8 million bpd. That is over 80 per cent improvement… But I also want to tell you that we are not where we want to be,” he pointed out.
According to the minister, Nigeria currently holds about 37 billion barrels of crude oil reserves and over 209 trillion cubic feet of gas, figures he described as largely unchanged over the past two decades.
“What I am demanding from the permanent secretary and the directors is a clear framework on how we can explore all our basins and build on our reserves,” Lokpobiri said.
He lamented that successive administrations had failed to undertake comprehensive seismic studies aimed at discovering new oil and gas deposits, stressing that the Tinubu administration was committed to reversing the trend.
“For over 30 years, no government has been able to do proper seismic with a view to discovering more barrels of oil and more gas to add to our reserves. But this government is committed and willing to do that,” he said.
The minister said Nigeria was strategically positioned to benefit from evolving global energy dynamics and noted that the country’s oil and gas sector was witnessing renewed investor confidence following reforms introduced by the federal government.
He attributed the growing ‘influx’ of investments to policy reforms and efforts to create a more attractive business environment for operators. “Recall that we are getting an unprecedented influx of investors into Nigeria after the reforms undertaken by this government,” he stated.
Lokpobiri also noted improvements in the country’s external reserves, which he said had risen above $50 billion for the first time in 17 years. “Our reserves are now over $50 billion, and that is the highest in 17 years. These gains are a result of the bold reforms and decisions taken by this administration,” he stressed.
The minister observed that global conversations on energy were gradually shifting from energy transition to energy mix, creating fresh opportunities for oil and gas-producing nations such as Nigeria.
He urged civil servants in the ministry to strengthen institutional performance and accountability, describing the civil service as critical to achieving the government’s objective of unlocking energy and natural resources for sustainable development. “No society or country can succeed without a strong and vibrant civil service,” Lokpobiri said.
Earlier, the Permanent Secretary of the Ministry of Petroleum Resources, Patience Oyekunle, said the retreat was designed to strengthen performance management, improve reporting capabilities and enhance accountability across the ministry and its agencies.
“It is an opportunity to deepen our understanding of performance management requirements, strengthen our reporting capabilities, exchange ideas, review our progress, identify challenges, and collectively develop practical solutions that will enhance institutions effectively,” she stated.
Also speaking, the Director of Planning, Research and Statistics, Kemi Ahmed-Yusuf, said the ministry was working towards achieving key deliverables, including increasing crude oil production to 3 million bpd, boosting gas supply, improving petroleum product availability and strengthening local content development.
Although the Petroleum Industry Act (PIA) has laid the framework for the operation of the industry, Ahmed-Yusuf noted that citizens were still asking if this has translated to better performances, less wastages, and real development.
Besides, the Executive Secretary of the Petroleum Technology Training Fund (PTDF), Prof. Shehu Aliyu, represented by Waziri Laisu, Deputy General Manager, Special Programmes Unit, emphasised that governments are increasingly measured, not merely by policies formulated, but by quality of implementation, the efficiency of institutions and the tangible outcomes delivered to citizens.
“The federal government is fundamentally committed to result-based governance, spearheaded through the Central Resource Delivery Coordinating Unit (CRDCU) that represents the significant steps towards strengthening public sector performance and ensuring that government programmes translate into measurable development outcomes,” he stated.