Nigeria to Boost Oil Output by 600,000 Barrels Daily from New Investments — NUPRC
Story: written by zARA oCTOBER 16,2025
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that fresh investments and recently approved projects are set to raise the country’s crude oil production by about 600,000 barrels per day, alongside an additional 2 billion standard cubic feet of gas daily.
The Commission Chief Executive, Gbenga Komolafe, revealed this during the 2025 World Energies Summit organized by Frontier Energy Network in London.
According to Komolafe, the 28 Field Development Plans (FDPs) approved so far in 2025 have unlocked an estimated 1.4 billion barrels of crude oil and 5.4 trillion cubic feet of gas, supported by over $18.2 billion in committed capital investment (CAPEX).
“These projects reflect the success of Nigeria’s upstream reforms and underscore the sector’s return to growth. With these approvals, Nigeria’s oil and gas industry is on track to reinforce its position as a leading global energy hub,” Komolafe stated in a release signed by Eniola Akinkuotu, Head of Media and Strategic Communications.
He noted that President Bola Tinubu’s administration, in collaboration with the NUPRC, is implementing bold and strategic policies to attract new investments amid global energy transition pressures.
Komolafe highlighted key achievements such as increased rig activity — rising from just eight rigs in 2021 to 70 in 2025, with 41 currently drilling. Oil production, he added, has also climbed from 1.46 million barrels per day in October 2024 to approximately 1.8 million barrels daily.
He cited major Final Investment Decisions (FIDs) such as the $5 billion Bonga North Project and the $500 million Ubeta Gas Project as clear indicators of renewed investor confidence.
The NUPRC boss also pointed to the positive impact of reforms under the Petroleum Industry Act (PIA) 2021, which established transparent, predictable, and investor-friendly regulations. So far, 24 new regulations have been issued to align with global standards and restore investor trust.
He further commended President Tinubu’s 2024 Executive Orders for incentivising operations and driving growth in the oil and gas industry.
As part of Nigeria’s “Decade of Gas” strategy, Komolafe said the country is embedding environmental responsibility into its upstream policies through a comprehensive Decarbonisation Framework, which includes carbon capture, MRV systems, and access to carbon markets.
He added that the successful implementation of the Host Communities Development provisions under the PIA has strengthened industry stability and fostered trust between operators and host communities.
“With the upcoming Block Licensing Round, we invite both local and international investors to take advantage of Nigeria’s mature and frontier basins, which now offer some of the most competitive fiscal terms globally,” Komolafe concluded.
