Nigeria Targets 2.5mbpd Oil Production with $21bn Investment

Nigeria is targeting a crude oil production level of 2.5 million barrels per day (bpd) and aims to attract $21 billion in investment through enhanced pipeline surveillance. The Nigerian National Petroleum Company Limited and its partners have signed agreements to advance the Bonga Southwest/Aparo project, which is crucial for achieving a Final Investment Decision.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is focused on reviving dormant oil fields and unlocking deepwater resources to draw in foreign investments. Despite efforts post-Petroleum Industry Act (PIA), national output has not exceeded 1.7 million bpd since November 2005.

The Federal Government has appointed Tantita Security Services Nigeria Ltd (TSSNL), led by High Chief Dr. Government Oweizide Ekpemupolo, alias Tompolo, to secure oil assets in the Niger Delta. This initiative is vital for ensuring the protection of oil infrastructure and supporting Nigeria's economic development.