The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has called for intensified exploration activities in Nigeria’s frontier and inland basins to unlock untapped hydrocarbon resources, increase reserves and secure the future of the industry.
Assistant Director, Information, Ministry of Petroleum Resources, Ngozi Umeano, in a statement on Thursday, said Mr Lokpobiri made the call while speaking at the ministry management retreat in Abuja, themed “Driving Institutional Performance and Accountability in the Nigerian Petroleum Sector for Sustainable National Development.”
The two-day event held from 10 to 11 June, according to the statement, brought together the leadership of the ministry, heads of agencies and facilitators to chart a path for sustained growth, enhanced accountability and improved performance in Nigeria’s petroleum sector.
The statement said the minister reaffirmed the federal government’s commitment to strengthening institutional performance, accountability and investment-driven growth in Nigeria’s petroleum sector.
He noted that the administration has recorded significant progress in the sector since assuming office.
He said Nigeria’s crude oil production has increased from about one million barrels per day to approximately 1.8 million barrels per day, while the number of active drilling rigs has grown from fewer than 10 to over 60 in different locations in the country.
He attributed the sector’s improved performance to reforms that have restored investor confidence through policy stability, regulatory certainty and a competitive investment climate, making Nigeria a more attractive destination for oil and gas investments.
The minister further noted that Nigeria’s foreign reserves have surpassed $50 billion, the highest level in 17 years, while downstream sector reforms have eliminated the persistent fuel queues previously experienced nationwide.
Despite these achievements, Mr Lokpobiri stressed the need to sustain momentum, urging stakeholders to target crude oil production above 2.5 million barrels per day and expand gas production to fully harness the nation’s energy potential.
He described the retreat as a strategic platform for reviewing progress, addressing existing challenges and developing practical frameworks to strengthen accountability, improve performance and sustain growth in the petroleum sector.
“The minister also called for intensified exploration activities in frontier and inland basins, including the Anambra, Benue, Chad and Dahomey Basins, to unlock untapped hydrocarbon resources, increase reserves and secure the future of the industry,” the statement said.
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Highlighting developments in the global energy landscape, he observed that the conversation has shifted from “energy transition” to “energy mix,” underscoring the importance of policies that promote energy security, attract investments and support long-term economic prosperity.
In her address, the Permanent Secretary of the Ministry, Patience Oyekunle, described the retreat as an important platform for learning, knowledge sharing and constructive engagement.
She urged participants to actively engage in discussions, share experiences and embrace new perspectives.
Also speaking, the Director of Planning, Research and Statistics, Kemi Yusuf, said the retreat was convened to strengthen the ministry’s capacity to deliver on its mandate.
