Oil Production Boost: Tinubu Orders Immediate Reactivation of Dormant Oil Fields
President Bola Tinubu has directed all holders of dormant oil assets across Nigeria to immediately reactivate them to boost the country’s dwindling crude oil production and revenue. This directive was announced by the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, during the 2025 Nigeria Oil and Gas Energy Week in Abuja.
The Federal Government aims to increase crude oil production to 2.1 million barrels per day and generate approximately N84.67 trillion in crude oil revenue, based on an oil price of $75 per barrel. However, the country has been struggling to meet its production targets, with output currently hovering around 1.4 million barrels per day. Although production climbed to 1.63 million barrels per day in May from 1.61 million barrels per day in April, more needs to be done to achieve the set target.
The Minister emphasized that reactivating dormant oil assets will not only lead to growth in the oil sector but also sustain investments in capacity building. He stressed that the government is determined to maximize oil production by ensuring that only serious investors retain access to Nigeria’s hydrocarbon resources.
Lokpobiri urged oil and gas operators to ensure every asset under their control is active and productive, treating the President’s directive with urgency and gravity. He also called on stakeholders to adopt a new mindset that is value-driven and innovation-led to drive growth in the industry.
The government’s move aims to end the era of speculative licensing, where companies acquire oil blocks but fail to develop them. By reactivating dormant fields, Nigeria hopes to bridge its production shortfall and meet both domestic energy needs and international commitments. The recent wave of asset divestments and subsequent increase in production volumes highlight the potential for indigenous capacity to grow the industry.
Overall, the reactivation of dormant oil fields is a strategic move to boost Nigeria’s crude oil production, increase revenue, and drive growth in the oil and gas sector. #Oil Production Boost: Tinubu Orders Immediate Reactivation of Dormant Oil Fields#
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