Oil Production: Tinubu Orders Reactivation Of Dormant Oil Fields

The Federal Government had set a crude oil production target of 2.1 million barrels per day, and roughly N84.67 trillion crude oil revenue in its 2025 budget. The directive was conveyed to oil and gas operators by the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, on Tuesday, at the ongoing 2025 Nigeria Oil and Gas Energy Week in Abuja.

According to the minister, reactivation of the oil assets towards productivity will not only lead to growth in the oil sector but also sustain investments in capacity building.

He said the government was determined to maximise oil production by ensuring that only serious investors retain access to Nigeria’s hydrocarbon resources.

The Federal Government had set a crude oil production target of 2.1 million barrels per day, and roughly N84.67 trillion crude oil revenue in its 2025 budget. This is based on an oil price of $75 per barrel.