Nigeria Reports More Than 70 Active Oil Rigs

Nigeria has more than 70 active oil drilling rigs, compared with fewer than 10 in 2023, Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri said at the fifth anniversary commemoration of the Nigerian Upstream Petroleum Regulatory Commission. He described the increase in drilling activity as significant for the upstream sector and said sustained drilling campaigns would shape the country’s future production capacity.

Lokpobiri said oil output stood at about one million barrels a day when President Bola Tinubu’s administration took office in 2023, when the number of active rigs was below 10. He attributed the subsequent increase in drilling activity to reforms intended to create a more competitive, transparent and predictable business environment.

The minister said Nigeria had 37.01 billion barrels of official oil and condensate reserves as of January 1, 2026. He stressed that reserves must be explored, developed and produced to generate economic value, and urged the regulator to sustain reforms, attract investment and unlock additional barrels.

Lokpobiri also called for faster regulatory processes, warning that delays can discourage investors considering other jurisdictions. His remarks link rig activity with future production potential, but do not set an output target or timetable for an increase. The reported rig count is one measure of upstream activity; additional production will depend on investment, project development and the conversion of reserves into producing fields.