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Nigeria Eyes 3mbpd Oil Output by 2030 — NUPRC
Nigeria is on course to achieve its target of producing 3 million barrels of crude oil per day by 2030, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Chief Executive Mrs. Oritsemeyiwa Eyesan said ongoing reforms, faster approvals, and renewed investment are already driving recovery in the oil sector.
“The national target is to get to 3 million barrels by 2030 — I believe we are able to get there. The major enablers are being addressed,” she noted.
Nigeria’s crude production has recently reached its highest monthly average in over four years, supported by stronger investment from both international and indigenous operators.
The NUPRC highlighted that reforms are designed to accelerate investment decisions and improve efficiency, while indigenous companies now account for about 60% of Nigeria’s oil output, reflecting their growing role in the sector.
Average daily production hit 1.56 million barrels per day in June, the highest since April 2020. ExxonMobil is set to begin drilling at a 40,000 bpd oilfield in August, while Renaissance Africa Energy announced a new discovery, further boosting outlook.
Stronger oil prices have also encouraged producers to reactivate dormant wells, adding to the recovery momentum.
The Federal Government has introduced fiscal incentives, tax waivers, and faster regulatory approvals to attract fresh capital, following years of underinvestment, theft, and pipeline vandalism that weakened output.
Nigeria’s long-term goal is to reach 3 million bpd by 2030, while strengthening the role of local operators and ensuring compliance with OPEC quotas, which the country has exceeded for two consecutive months.
