We remain fully committed to ramping up production to meet and exceed budgetary target of 2 mbpd—Lokpobiri
The Minister of State for Petroleum Resources (Oil) Sen. Heineken Lokpobiri Ph.D. has reaffirmed the commitment of the Petroleum ministry to meet and exceed the budgetary target of two million barrels per day in 2025.
He made the affirmation and commitment during his appearance at the joint meeting of the National Assembly on Budget Defense in Abuja.
According to him “as a policy of a Ministry whose output is critical to fulfilling a condition precedent for the proposed 2025 National Budget, we remain fully committed to ramping up production to meet and exceed the budgetary target of 2 mbpd.”
“ I reaffirmed this commitment during my appearance at the joint meeting of the National Assembly on Budget Defense.”
Lokpobiri further noted that “I highlighted our significant progress in crude oil production over the past year. From a modest baseline of 1 mbpd, inclusive of condensate, we have successfully scaled up production to 1.8 mbpd.”
He also affirmed that “this accomplishment underscores our capacity and readiness to meet the 2025 crude oil production benchmark of 2mbpd, upon which the budget is premised.
“With renewed strategies and collaborative efforts, we are poised to achieve this year’s production target of 2 mbpd and above, ensuring sustainable economic growth.”
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