Heineken Lokpobiri, the Minister of State for Petroleum Resources in Nigeria, announced that the country’s oil production has risen from approximately 1 million barrels per day (bpd) to 1.8 million bpd since he assumed office.
Gatekeepers News reports that during the 2025 Heirs Energies Petroleum Industry Leadership Forum held in Abuja on Thursday, Lokpobiri expressed optimism about achieving Nigeria’s 2025 budget target of 2.06 million bpd.
The budget framework for 2025 relies on several key economic assumptions, which include an oil price benchmark of $75 per barrel, a daily oil production estimate of 2.06 million bpd, and an exchange rate of N1,400 per dollar.
At the forum, Lokpobiri emphasized that the production target is within reach, citing the significant investments made in the oil sector since he took office.
“When I became minister, we were producing about 1 million barrels per day. Today, we are at about 1.8 million barrels,” he said.
“The 2025 budget is predicated on 2.06 million bpd, and I want to assure Nigerians that this is doable.
“For over a decade, there was little to no investment in the sector. But when we came in, we changed the perception about Nigeria, and investors are now returning.
“We have also enhanced security in the Niger Delta. I must commend our military, paramilitary forces, and civilian contractors.
“Their combined efforts have led to a reduction in pipeline vandalism, oil theft, and other infractions—resulting in increased production.”
Lokpobiri also highlighted technological advancements as a key factor in boosting efficiency and reducing corruption in the industry.
“Previously, operations were handled manually, making real-time monitoring difficult,” he said.
“Now, we have deployed technologies to track activities at our terminals, ensuring transparency and curbing inefficiencies.”
The minister said President Bola Tinubu’s administration provided strategic leadership in the oil and gas industry, noting that reforms have helped to eliminate bureaucratic bottlenecks.
