Nigeria believes it is on course to raise oil production to 3 million barrels per day by 2030, as reforms aimed at attracting investment and speeding up project approvals begin to revive an industry that has struggled with years of underinvestment, oil theft and ageing infrastructure.
The ambitious target would more than double the country’s current crude oil production and strengthen Nigeria’s position as Africa’s largest oil producer at a time when higher output is crucial for government revenues, foreign exchange earnings and economic growth.
“The national target is to get to 3 million barrels by 2030. I believe we are able to get there,” Oritsemeyiwa Eyesan, chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said.
She said faster permitting, licensing and crude sales processes were among the key reforms helping to unlock investment across the upstream oil sector.
Eyesan, who was appointed in December 2025 as part of President Bola Tinubu’s broader effort to revive Nigeria’s petroleum industry, said many of the factors that previously discouraged investment were now being addressed.
