The Nigerian Minister of State for Petroleum (Oil), Sen. Dr. Heineken Lokpobiri, has called for stronger collaboration, cost efficiency, and PIA compliance in the upstream sector if the 3 million barrels per day (mmbpd) crude oil production target set for 2030 is to be a reality, in achieving the renewed hope agenda of President Ahmed Bola Tinubu.
The Honourable Minister made these promising remarks at the 10th anniversary celebration of the Independent Petroleum Producers Group IPPG, which also coincided with the transition to new management executives of the group that will be saddled with the responsibility to run the affairs of the association for a new tenure.
In representing President Bola, Dr. Lokpobiri also, in his address, advocated for reduced cost of operations, stronger collaboration among indigenous operators to eliminate dormant assets, and strict adherence to extant laws in the pursuit of increased production. He reiterated that the ‘Drill or Drop’ policy remains an enforcement tool of the ministry, as enshrined in the Petroleum Industry Act (PIA).
“As a policy position, we cannot overemphasize the importance of collaboration among operators in the sector, because an idle asset adds no value. This is why it is often said that it is better to hold a piece of a whole than a whole of nothing. Asset ownership must translate into production, efficiency, and national benefit, “He stated.
He highlighted the deliberate steps taken by the Renewed Hope Administration of President Ahmed Tinubu to create a stable and enabling environment through consistent implementation of the PIA, improved regulatory clarity, faster approvals, and enhanced security across oil and gas assets.
“With security challenges significantly reduced, operators must now prioritize efficiency, innovation, shared infrastructure, and global best practices. I drew attention to successful divestments and collaborative models that have unlocked value and demonstrated indigenous capacity,” He added.
While commending members of the IPPG for their ingenuity, He stressed that no production gains should be pursued outside the framework of the PIA, as long-term growth depends on discipline, compliance, and a shared medium-term vision for the sector.
