President Bola Tinubu has pledged to raise Nigeria’s crude oil production from less than 1.5 million barrels per day to above 2 million bpd in 2025.
Experts who are vast in Nigeria’s Oil and Gas industry say it is achievable but warn that a toxic mix of factors including poor investment in the upstream sector, poor infrastructure, crude oil theft, and corruption, among others, may derail this target and render it a mirage.
Petroleum Engineer and Oil and Gas Analyst, Dr Bala Zakka argued that Nigeria has the potential to increase its crude oil output, but achieving such a feat in 2025 is illusory, taking into account the persistent crude oil theft in the Niger Delta and the exodus on International Oil Companies (IOCs) from onstream exploration in the region.
Speaking on the Federal Government’s oil production target in an interview with Nairametrics, Dr Zakka said: “This year, No!. But generally, Nigeria has what it takes to boast the production of crude oil and gas. Nigeria…
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