Nigeria acheives highest onshore oil production in 20yrs

Nigeria has achieved its highest onshore oil production level in two decades, a detailed report from the Office of the Special Adviser to the President on Energy, Olu Verheijen has disclosed.

According to the report, onshore output has surged to 1.6 million barrels per day, reflecting an increase of approximately 400,000 barrels per day.

This recovery marks a dramatic departure from the no-reform baseline that had previously projected a steady decline in national output, signaling that the administration’s strategic interventions are successfully reversing years of operational stagnation.

The production boost is part of a broader $10 billion surge in new Final Investment Decisions (FID) secured through a series of presidential executive orders aimed at fiscal recalibration.

By creating a dual-track system, the federal government has enabled International Oil Companies (IOCs) to pivot toward high-value deepwater and integrated gas projects while facilitating a $4 billion divestment program that empowers indigenous players to revitalize onshore assets.

Verheijen noted that these reforms have not only stabilized the oil sector but also expanded domestic gas supply to 1.9 billion standard cubic feet per day, laying the groundwork for a more resilient and self-sufficient energy economy.

She further highlighted the ongoing reforms in the power sector, noting that is undergoing a fundamental redesign to ensure long-term industrial growth.

“The administration has launched the Presidential Power Sector Financial Reform Programme to clear legacy liabilities and has already deployed over 2.5 million meters to bridge the metering gap. By replacing regressive blanket subsidies with a service-led market model and targeted support for vulnerable households, the government has significantly increased electricity supply to key industrial hubs.”

“This comprehensive overhaul is designed to transform Nigeria into a bankable energy destination, ultimately supporting the nation’s transition into a middle-income economy,” the report stated.