The Independent Petroleum Producers Group (IPPG) has pledged its full support for the Project One Million Barrels Incremental initiative, launched by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to increase Nigeria’s daily crude oil production.
During a visit to the NUPRC headquarters in Abuja, the IPPG delegation commended the Commission for its regulatory reforms, especially its role in facilitating the divestment of assets by international oil companies (IOCs) to indigenous players.
The pledge of support comes as NUPRC reported that Nigeria produced 97% of its 1.5 million barrels per day (mbopd) crude oil quota allocated by the Organisation of Petroleum Exporting Countries (OPEC) in May 2025.
According to the NUPRC’s “Crude Oil and Condensate Production May 2025” report:
- Crude oil output stood at 1.45 mbopd
- Condensate output was 204,493 barrels per day
- Total May output reached 1.81 mbopd
The Commission stated that the One Million Barrels Initiative is crucial for reversing production declines, attracting investment, and enhancing Nigeria’s global competitiveness in the oil sector.
The ongoing collaboration between regulators and indigenous producers is seen as essential for ensuring the long-term sustainability and profitability of Nigeria’s upstream oil sector.
