Oil production: FG targets 2.3mbpd by mid-2025
The Federal Government is targeting an increase in Nigeria’s oil production from its present 1.4 million barrels per day (mbpd) to 2.3 mbpd by mid-2025 due to its successful fight against oil theft.
Minister of Defence, Dr Mohammad Abubakar, made the announcement, yesterday, when he visited the 6 Division, Nigerian Army Barracks in Port Harcourt, Rivers State.
Abubakar noted that “oil production has risen” from 1.4mbpd to 1.7mbpd. He said: “I believe we are now at about 1.6 to 1.7 million barrels as against 1.4 million barrels that we were on. I believe that by the end of the year, we will see ourselves around two million barrels. And by the middle of next year, we will be producing about 2.3 million barrels, with the arrangement that I have seen in place, and with the efforts the armed forces and service chiefs are putting, and the encouragement from the President.
“The oil production will continue increasing and, I assure you, before the end of the year, we will see a tremendous increase in oil production in this country.”
The minister’s visit was to boost the troops’ morale and assess progress in securing Nigeria’s oil infrastructure. He commended the troops for their excellent work and encouraged them to continue in their efforts. He added: “I came to see our troops and to encourage them to continue to do the good job they are doing around here. I also visited to see how we increase the fight against crude oil theft in the region.”
Abubakar commissioned two new buildings and planted a tree within the barracks, demonstrating the government’s commitment to improving the troops’ working conditions. He said the target aligned with the Federal Government’s broader strategy to enhance Nigeria’s economic growth and stability.
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