Oil
Nigeria targets three million daily barrels by 2030
Nigeria aims to lift oil production to three million barrels daily by 2030, hinging success on fresh upstream capital and asset protection.
Key points
- The Nigerian Upstream Petroleum Regulatory Commission plans to offer forty blocks in its upcoming licensing round.
- Annual sector investments dropped from 26 billion US dollars in 2014 to approximately 2 billion US dollars.
- Tantita Security Services provides critical pipeline surveillance to deter crude theft in the Niger Delta.
Investment and production goals
Nigeria has set an ambitious target to reach a daily crude output of three million barrels by the end of the decade. Alongside this petroleum goal, authorities plan to expand natural gas production. Meeting these objectives requires reversing a significant decline in financial inflows. According to regulatory figures, annual capital commitments into the upstream sector fell from approximately 26 billion US dollars in 2014 down to roughly 2 billion US dollars.
To attract new players, the Nigerian Upstream Petroleum Regulatory Commission announced plans for a licensing round featuring forty blocks across onshore, shallow-water, and deepwater locations. Commission leadership emphasized that global competition for capital is fierce, requiring transparent regulations and reliable data to convince investors of long-term viability.
Asset protection in the Niger Delta
Attracting capital alone will not suffice if produced volumes fail to reach export terminals. Safeguarding petroleum infrastructure remains vital to maintaining export revenues and investor confidence. The Federal Government has contracted Tantita Security Services Nigeria Limited, led by Government Oweizide Ekpemupolo, to monitor pipelines and curb illegal connections in the oil-producing region.
Industry stakeholders note that while surveillance stabilizes transport networks and reduces operational risks, comprehensive energy security requires broader improvements across the entire value chain, from exploration to refining and pricing policies.
Recent output figures indicate a positive trend. Official data show that combined crude and condensate generation increased from 1.48 million barrels per day earlier in the year to 1.735 million barrels per day by June.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
