TotalEnergies to Add 140,000bpd to Nigeria’s Oil Output on the Back of Tinubu’s Policies

. Petroleum products overtake crude oil, account for 47.5% of UK imports from Nigeria

Festus Akanbi and Ejiofor Alike

The Deputy Managing Director of TotalEnergies E&P Nigeria Limited in charge of Deepwater Assets, Mr. Victor Bandele, has disclosed that following the incentives provided by President Bola Tinubu’s administration in 2023/2024 to encourage investments on gas projects, the French energy giant’s Ubeta deepwater project and Ima shallow water offshore field are on course to achieve first oil in 2027 and fourth quarter (Q4) of 2028, respectively.

This is coming as refined petroleum products have overtaken crude oil as the United Kingdom’s largest goods import from Nigeria, accounting for 47.5 per cent of total goods imports from the country in the 12 months ended March 2026.

Speaking in Lagos at a special panel session at the Nigeria Annual International Conference and Exhibition (NAICE) 2026, which ended at the weekend in Lagos, Bandele explained that the incentives provided by President Tinubu’s administration encouraged TotalEnergies and other operators to launch new deepwater projects on gas.