Nigeria grows active oil rigs by almost 500%, see new number and locations

• Nigeria has made large improvements successful its crude lipid production, moving it up 70% from 1 cardinal bpd immoderate years agone to 1.7 cardinal bpd
• This betterment is credited successful portion to the respective reforms that person attracted capitalist activities into the country
• In a caller address, the NUPRC brag has disclosed a monolithic maturation successful the fig of progressive lipid rigs wherever drilling takes place

Ruth Okwumbu-Imafidon, a writer with Legit.ng, has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

Nigeria’s lipid industry has made important advancement successful its rebound journey, with progressive lipid rigs increasing by astir 500% successful 4 years.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the fig of progressive lipid rigs grew from 8 successful 2021 to 46 arsenic of June 2025.

This marks a 475% maturation successful 4 years, and shows affirmative results from the respective reforms successful the industry.

Nigeria's lipid accumulation has accrued by astir 70% successful the past fewer years. Photo credit: Contributor
Source: Getty Images

The NUPRC Chief Executive, Gbenga Komolafe, spoke astatine the opening of a media store for members of the Energy Correspondents Association of Nigeria (ECAN), led by John Ofikhenua.

He besides disclosed that Nigeria has added 300,000 barrels of crude lipid accumulation regular since the motorboat of the “Project 1 Million Barrels Per Day”, a motion that accumulation activities are improving.

What does this mean for Nigeria?

An summation successful the fig of lipid rigs indicates an upward inclination successful upstream lipid activities and an summation successful capitalist confidence.

It implies that investors are injecting much superior into reactivating dormant lipid wells oregon processing caller ones. All these constituent to an summation successful lipid exploration and accumulation successful Nigeria.

The Project 1 cardinal bpd was launched successful October 2024 with the people of expanding Nigeria’s crude output by up to 1 cardinal barrels per time (bpd)within 12 to 24 months, moving accumulation from 1.7 mbpd to 2.6 mbpd by October 2026.

This entailed reforms and policies to reactivate dormant lipid wells, amended the information of lipid infrastructure, revitalize brownfield assets, and pull caller investments, This Day reports.

Achieving an further 300,000bpd wrong 9 months of the motorboat is truthful indicative of occurrence successful the initiative.

NUPRC expects lipid accumulation to summation further

Komolafe remarked that adjacent though the desired results had not yet been achieved, the assemblage has seen important advancement implicit the past fewer years.

Daily crude accumulation has accrued from 1 cardinal bpd to implicit 1.7 cardinal bpd, placing Nigeria among the apical 5 crude producers successful Africa.

He said:

“I person worked with a precise resilient squad that is committed to drive, to optimise, and valorise our hydrocarbon resources. The rig number contiguous is 46. And we’re not stopping there. But, of course, it’s a leap, precise geometric, but we are moving higher. The signs are positive. The feedback successful the manufacture has been precise encouraging.”

Komolafe added that the president’s Executive Orders 40, 41, and 42, concerning assorted taxation incentives, betterment of section contented law, and simplification of the contracting rhythm and thresholds, besides contributed to the improvements seen truthful far.

Dangote Refinery has fixed a day to commencement refining 100% Nigerian crude oil. Photo credit: Ernest Ankomah, Contributor
Source: Getty Images

Recall that the committee precocious reported an yearly gross of N12.25 trillion, marking a 182.25% growth from the N4.34 trillion generated successful 2023.

Dangote Refinery acceptable to halt importing crude

In related news, Dangote Refinery has confirmed plans to halt importing crude lipid from suppliers extracurricular the country.

Legit.ng reported that respective of the semipermanent proviso contracts volition expire by December 2025.

The Vice President of Dangote Industries Limited (DIL) confirmed that the refinery would past focus connected section Nigerian crude producers for supply.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng