An oil sector reform coalition emphasizes the need for predictable bid rounds, transparent processes, and regulatory certainty to sustain momentum in the oil and gas sector.
This follows the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) recent disclosure that the country’s crude oil production has surpassed the 1.7 million barrels per day (bpd) benchmark several times in 2025.
The Oil & Gas Governance Reform Alliance (OGRA) highlighted that these disclosures indicate Nigeria is progressing towards its long-term output goals.
In a statement released Wednesday, OGRA, led by Executive Director Dr. Ibrahim Kalango, asserted that the revelation shows that Nigeria’s production capacity was never the issue, but rather a lack of operational focus.
OGRA cited rising rig activity, renewed investor confidence, multi-billion-dollar final investment decisions, and the approval of Field Development Plans worth approximately $20 billion in the last ten months as signs of a departure from years of stagnation and investor hesitation.
The statement read, “NUPRC has shown that Nigeria’s production capacity was never the issue. What was lacking was regulatory leadership and the courage to enforce discipline across the value chain.”
OGRA also noted that the recent remarks by NUPRC boss Gbenga Komolafe demonstrate that Nigeria is on course to reach its 2.5 million bpd production target in 2026, describing this as “the most credible pathway to revenue recovery and macroeconomic stability” since the era of oil price crashes.
“Exceeding 1.7 million bpd multiple times is not just a statistical milestone; it is evidence that Nigeria is regaining the confidence of producers and investors. For the first time in years, the 2.5 million bpd target is not aspirational rhetoric, it is attainable,” Kalango stated.
The group reported that the near-70 rig count this year, with over 40 rigs currently active, reflects the strongest level of upstream activity in nearly a decade, confirming a positive shift in investor sentiment towards Nigeria.
NUPRC recently announced a new oil licensing round set for December 1, 2025, aiming to consolidate its reserve base, attract new capital, and compete in a rapidly transforming global industry.
“Nigeria cannot afford opaque or inconsistent licensing processes; predictable bid rounds, transparent processes, and regulatory certainty will restore credibility,” the statement concluded.
