The Federal Government (FG) has called on International Oil Companies (IOCs) operating in Nigeria to take concrete action to raise crude oil production, energy sector officials said at the 2026 Nigerian International Energy Summit in Abuja.
The appeal comes as the government works toward its target of increasing daily oil output in advance of the 2027 general elections.
Speaking at the close of a panel session, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the government has created an enabling environment for upstream operators to perform, but emphasised that industry players must now act to deliver measurable production results.
Nigeria’s daily average crude oil production in 2025 was about 1.6 million barrels per day, below both the government’s budget benchmark of 2.06 million barrels per day and its ambitious 2.5 million barrels per day target for 2027, according to summit disclosures.
Lokpobiri said the performance of the petroleum industry is fundamentally tied to the success of upstream operators, noting that all segments from upstream to midstream and downstream are connected.
He affirmed that the Petroleum Industry Act (PIA) treats all companies, both local and foreign equally under the law and that cooperation among operators is vital to meeting production goals.
The minister reiterated that the Federal Government has offered reforms, tax incentives and regulatory adjustments to unlock the sector’s full potential, but emphasised that such support must be matched by increased investment and output from all players.
Nigeria remains largely dependent on foreign exchange earnings from crude oil exports, making increased production a key component of economic planning.
The summit discussion highlighted that rising output could bolster revenue flows and strengthen Nigeria’s position in regional and global energy markets.
As stakeholders consider the next stages of investment and operational planning, the Federal Government’s appeal underscores the urgency attached to boosting oil production in line with national targets and policy priorities.
