NUPRC Must Award Assets to Capable Operators to Boost Nigeria's Oil Output

Nigeria's oil output can increase if the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) awards assets to capable operators, according to the Chairman of Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya.

Ogunsanya made this call at the Nigeria Energy Leaders Summit 2026 in Lagos, where he noted that handing over prolific assets to unqualified companies is a major contributor to Nigeria's production underperformance and missed revenue.

Nigeria aims to raise its oil output from 1.7-1.8 million barrels per day to 3 million barrels by 2030, but Ogunsanya believes this can only be achieved if assets are awarded to companies with the necessary expertise and funding.