Nigeria aims to raise oil production to 4 million b/d using PIA

will assist Nigeria in increasing its oil production to 4 million barrels per day, the Minister of State for Petroleum Resources, Timipre Sylva, has said.

Mr. Sylva, speaking at the Seplat energy summit themed “Global Trends In Energy Transition”, said the new law has enhanced the Nigerian petroleum industry’s reputation, provided the pathway to new investments, and consolidated Nigeria’s ability to play a significant role in meeting the world’s growing demand for energy.

“This is our approach to the issue of renewable energy and the energy transition. While acknowledging our commitments to net-zero as a nation, there is no gainsaying the fact that Nigeria requires fossil fuel as its baseload energy source. He stated that the country has rejected the concept of a single pathway to the energy transition saying multiple pathways to the energy transition should and must exist to ensure that no country is left behind in the process of achieving net-zero by 2050.

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