Abuja – The Federal Government (FG) has issued a strong call to International Oil Companies (IOCs) operating in Nigeria, demanding immediate and demonstrable action to significantly boost crude oil production. This push comes as the nation strives to achieve its ambitious target of 2.5 million barrels per day (mbpd) by 2027.

Speaking at the Nigerian International Energy Summit (NIES) 2026, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, emphasized the critical role of the upstream sector in the overall success of the petroleum industry. He highlighted that Nigeria's economy remains heavily reliant on foreign exchange earnings generated from oil exports, making increased production a national imperative.

“The success of the oil and gas industry is largely dependent on the success of the upstream,” Lokpobiri stated firmly. “From upstream to midstream and downstream, everything is connected. If we do not produce crude oil, there will be nothing to refine and nothing to distribute. Therefore, the success of the petroleum sector begins with the success of the upstream.”

Current figures indicate a significant shortfall in oil production compared to the nation's budgetary goals. In 2025, Nigeria's daily average oil production hovered around 1.6 million barrels per day, considerably lower than the budget benchmark of 2.06 million barrels per day. This gap underscores the urgency behind the government's appeal for increased output.

Lokpobiri assured IOCs that the government has actively worked to create a more conducive environment for their operations. He stressed that this improved operating landscape should remove any potential excuses for failing to meet the set production targets. The minister stated explicitly that there is no preferential treatment given to indigenous producers over IOCs, promising a level playing field for all operators.

The Minister's assertive stance reflects the government's determination to revitalise the oil sector and maximize its contribution to the nation's economic growth. The call for “concrete steps” signals a shift from mere discussions to a demand for tangible results. The pressure is now on IOCs to demonstrate their commitment to Nigeria's oil production goals and contribute to the country's economic stability.

Analysts suggest that increased investment in exploration and production activities, coupled with improved security measures to protect oil infrastructure, will be crucial in achieving the 2.5 mbpd target. Streamlining regulatory processes and fostering stronger partnerships between the government and IOCs are also seen as vital components of a successful strategy.