A significant curb on oil theft and vandalism of facilities which underpinned production has helped catapult Nigeria crude output to a six-year high as the country becomes an International Energy Agency (IEA) association member.
Crude output hit 1.74 million bpd in June, according to data from the state oil corporation.
President Bola Tinubu has been investing in the oil and gas industry with plans of accelerating the country’s renewable energy as well as bolstering government revenue.
According to OilPrice.Com, Nigeria has begun to solidify its position as a major energy power in Africa. This led the International Energy Agency (IEA) Governing Board to decide in June to welcome Nigeria as an Association country. Nigeria joins South Africa, Kenya, and Senegal as an IEA Association country in sub-Saharan Africa.
“To solidify the agreement, IEA Executive Director Fatih Birol met with Nigeria’s Vice President Kashim Shettima and Minister of State for Petroleum Resources Ekperikpe Ekpo in Abuja in September. The officials discussed Nigeria’s energy and economic priorities and the opportunities created by the country’s closer engagement with the IEA,’’ said OilPrice.Com.
Of course, president Tinubu oil and gas reforms are paying off as the proposed $800 million offshore natural gas project by local producer Amni International and TotalEnergies will soon be consummated as it has reached the final stage of agreement.
The gas from the project is going to bolster Nigeria production capacity and also be pivotal in increasing electricity generation.
Nigeria’s total natural gas reserves stand at 215.19 trillion cubic feet (TCF) as of January 1, 2026, according to official declarations by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
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