Mkpoikana Udoma
Port Harcourt — Nigeria’s Ministry of Petroleum Resources has reported strong fiscal performance for 2025, pledging to ramp up crude production and deepen sector stability in 2026 as part of efforts to boost revenue and energy security.
Appearing before the National Assembly Appropriation Committee for the ministry’s budget defence, the Minister of State for Petroleum Resources (Oil) Sen. Heineken Lokpobiri, presented what he described as a solid financial and operational scorecard.
“The Ministry’s strong performance reflects prudent fiscal management, improved revenue optimization, and sustained operational efficiency,” Lokpobiri told lawmakers.
According to him, the gains recorded in 2025 underscore the ministry’s drive toward better governance in the oil and gas sector.
“The positive outcomes recorded thus far reflect our commitment to transparency, accountability, and the effective implementation of strategic priorities within the petroleum sector,” he said.
Nigeria’s oil sector remains central to public finance and foreign exchange earnings, making production growth and revenue optimization critical to the success of the national budget.
Looking ahead to 2026, Lokpobiri signaled a sharper focus on output growth and system stability.
“Our 2026 outlook remains focused on advancing our objective of ramping up production and strengthening sector stability,” he stated.
He added that the ministry’s plans are structured to align fully with federal fiscal projections.
“Our plans are carefully aligned to ensure that Nigeria’s 2026 Budget provisions are fully realized, while supporting national economic growth and energy security objectives,” he said.
