We Are Committed To Increasing Oil Production In 2025: Lokpobiri

 

Heineken Lokpobiri,  Minister of states for Mineral Resources (Oil) has  stated  the country's commitment to increasing oil production in the 2025.

This he said is  part of its broader strategy to drive sustainable economic growth in the oil and gas sectors.

 Reaffirming the country's   commitment to increasing crude oil production to 2 million barrels per day (mbpd) in 2025, Lokpobiri maintained that  target was crucial in fulfilling the proposed 2025 National Budget.

He said that  the government was confident that it is going to meet and exceed this benchmark.

Speaking at Abuja bat the weekend, he said that the  significant progress has been made in crude oil production over the past year.

Lokpobiri emphasized that the proposed 2025 National Budget is approximately N47.9 trillion.

He said:"  From a baseline of 1 mbpd, inclusive of condensate, production has successfully scaled up to 1.8 mbpd.

 "This accomplishment demonstrates the country’s capacity and readiness to meet the 2025 crude oil production target.

"With renewed strategies and collaborative efforts, Nigeria is poised to achieve this year’s production target of 2 mbpd and above.

"There is a  significant increase from the 2024 budget of N35 trillion  thereby  meeting the oil production target of 2 mbpd which is critical to supporting this budget and ensuring the country’s economic growth and development."