Nigeria’s upstream oil and gas sector is experiencing a resurgence, with the country’s rig count rising by 48 percent, from 31 in January 2025 to 46 as of July, a development industry regulators attribute to renewed investor confidence, regulatory reforms, and executive directives aimed at boosting production. This significant uptick in activity signals a vibrant petroleum industry and underscores Nigeria’s ambitions to scale crude oil production by an additional one million barrels per day (mbpd) by October 2026. Gbenga Komolafe, chief e
Nigeria’s upstream oil and gas sector is experiencing a resurgence, with the country’s rig count rising by 48 percent, from 31 in January 2025 to 46 as of July, a development industry regulators attribute to renewed investor confidence, regulatory reforms, and executive directives aimed at boosting production. This significant uptick in activity signals a vibrant petroleum industry and underscores Nigeria’s ambitions to scale crude oil production by an additional one million barrels per day (mbpd) by October 2026. Gbenga Komolafe, chief e