Nigeria’s oil industry is showing signs of strong recovery and growth, with oil rig count surging to 46 as of June 2025, up from 31 recorded in January. This boost in drilling activity, according to the Nigerian Upstream Petroleum Regulatory Commission, reflects renewed investor confidence and aggressive efforts to scale up crude oil production.
The Commission’s Chief Executive, Gbenga Komolafe, revealed the development on Wednesday during a two-day media workshop held in Abuja. He described the increase in rig count as a major indicator of progress in Nigeria’s petroleum sector.
Komolafe said the growth aligns with the Commission’s ambitious Project One Million Barrels initiative, which was launched in October 2024. The project is aimed at increasing Nigeria’s oil output by one million barrels per day between October 2024 and October 2026.
He explained that the country’s daily crude oil production has already risen from around one million barrels per day to about 1.7 million barrels, showing that the strategy is already yielding positive results.
According to the Commission, the higher rig activity also means more jobs, more revenue for the government, and a better outlook for Nigeria’s role in the global energy market. The regulatory body says it will continue to work closely with industry players to ensure that the target is not only met but sustained beyond 2026.