By Adewale Sanyaolu
The Independent Petroleum Producers Group (IPPG) has said that the conclusion of International Oil Companies’ (IOCs) divestments, full implementation of the Petroleum Industry Act (PIA) and fresh leadership across the sector will unlock three million barrels of oil per day (bpd) and 12 billion cubic feet of gas per day production targets by 2030.
Chairman of IPPG, Mr. Abdulrazaq Isa, stated this in his keynote address at the 2025 NOG Energy Week, which ended in Abuja at the weekend.
“The ball is now firmly in our court,” he declared, urging industry stakeholders to align with the President’s production target of three million barrels of oil and 12 billion cubic feet of gas per day by 2030.
Isa hailed the significant progress made in Nigeria’s oil and gas sector since the inauguration of the current administration in 2023.
Reflecting on the sector’s journey, Isa applauded the administration’s responsiveness to the industry’s reform wish list, noting that “most of the industry requests have been delivered,” a development he described as “unprecedented.”
He credited this success to President Bola Ahmed Tinubu’s commitment to reform, particularly the strategic transformation of the Nigerian National Petroleum Company Limited (NNPC) Ltd into a commercially driven national oil company.
The IPPG Chairman commended President Tinubu for appointing a technically competent leadership team at NNPC Ltd, including the newly appointed Group Chief Executive Officer, Mr. Bayo Bashir Ojulari.
He noted that the recently divested onshore and shallow water assets, largely held by IPPG members, would play a central role in achieving these targets.
The IPPG Chairman outlined a call to action for indigenous producers, emphasising the need for structural reforms, increased investment, community engagement, infrastructure expansion, and strengthened collaboration across the sector.
“We must become catalysts for economic transformation, attract strategic investment, and operate with the highest level of social responsibility and governance,” Isa stated.
Meanwhile, Isa has announced that Mr. Adegbite Falade, Group Chief Executive Officer of Aradel Holdings, has been appointed as the next Chairman of the Board of Trustees and Governance Council of IPPG.
“Mr. Falade will no doubt build on our legacy and lead IPPG to greater heights,” Isa said.
The effective date of Falade’s appointment is to coincide with IPPG’s 10th-year anniversary celebration scheduled for September 11, 2025.
In January this year, the Federal Government announced plans to collaborate with the Nigerian Navy to achieve its target of three million bpd in crude oil production by 2025.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, had stated this during the launch of the second phase of Operation Delta Sanity II (OPDS II) in Port Harcourt, Rivers State.
Lokpobiri noted that the initial phase of OPDS, launched on Jan. 10, had contributed to the improved production figures, prompting the Nigerian Navy to proceed with the second phase.
“In August 2023, Nigeria’s daily crude oil production was barely a million bpd. Currently, the nation produces about 1.8 million bpd.
“Our target is to reach three million bpd by 2025, and we are confident that the second phase of OPDS will play a key role in achieving this milestone,” Lokpobiri said.
He emphasised the pivotal role of the Nigerian Navy in ensuring security, stating that it would continue to collaborate with other security agencies to combat oil theft and pipeline vandalism.