Nigeria directs operators to ramp up production, eyes oil windfall

Mkpoikana Udoma

Port Harcourt –– Nigeria has urged its oil and gas industry operators to ramp up production as it positioned itself to take advantage of emerging supply gaps in the international market and rising global crude prices.

Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, gave the charge while speaking at the Cross Industry Group, CIG, meeting in London, saying the current global situation presents a strategic window for Nigeria to strengthen its foothold in the global oil and gas industry.

“Nigeria remains one of the most attractive investment destinations in the global oil and gas industry. However, the current global situation presents a window of opportunity that we must collectively take advantage of in the short term,” he said.

He challenged operators to act swiftly, stressing that the country is well positioned to help bridge supply shortfalls driven by ongoing disruptions in global energy markets.

“We are well positioned to help bridge emerging supply gaps, and it is therefore important for operators not only to recognise the opportunity before us but to act decisively and quickly,” Lokpobiri stated.

The Minister further emphasised the need for increased efficiency and collaboration across the industry to maximise output and revenue generation during the current price upswing.

According to him, timely action by operators would not only boost national earnings but also reinforce Nigeria’s role as a reliable supplier in the global energy market.

Highlighting Nigeria’s strategic position, he noted that the country is well placed to bridge supply gaps in the global market, especially amid ongoing geopolitical disruptions affecting oil output in other regions.

“Nigeria is well positioned to help bridge emerging supply gaps,” she said, stressing that operators must align investments with the urgency of the moment.

He also emphasised the need for sustained collaboration between regulators and industry players to unlock value, optimise assets, and ensure long-term sector growth.

According to him, the focus remains on creating an enabling environment that supports increased production while maintaining regulatory efficiency and transparency.