Indigenous operators now produce 50% of Nigeria’s oil — FG

The Federal Government has announced that indigenous oil and gas operators now account for more than 50 per cent of Nigeria's crude oil production. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, disclosed this at the maiden Petroleum Technology Development Fund (PTDF) Journal Summit 2026 in Abuja. He attributed the development to major divestment transactions by international oil companies, which created opportunities for indigenous operators to expand in the upstream sector. Lokpobiri also noted that crude oil production rose from about one million barrels per day in 2023 to over 1.7 million barrels per day, while active drilling rigs increased from about 14 to more than 60, and over $10 billion in foreign direct investment was attracted.

Read More