THE Federal Government has concluded plans to increase gas output by 50 per cent to 12 billion standard cubic feet, scf from 8 billion scf daily.

This is even as efforts are being stepped up to increase oil output by 66.7 per cent to 3 million barrels per day, bpd.

Engr. Gbenga Komolafe, Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, NUPRC, disclosed this at the 50th anniversary of the Nigerian Association of Petroleum Explorationists, NAPE in Lagos, Thursday.

Delivering his address on “Evolution of Oil and Gas Regulation in Nigeria: Opportunities, Achievements and Regulatory Strategies for Upstream Resource Optimization” -he said: “With 210.54 trillion cubic feet of natural gas reserves, the largest in Africa, and 37.28 billion barrels of crude oil reserves, Nigeria holds enormous reserves. As the largest oil producer in Africa, Nigeria currently produces approximately 1.8 million barrels of oil per day and 8 billion standard cubic feet of gas per day.

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“However, our national aspiration is to increase production to 3 million barrels of oil and 12 billion standard cubic feet of gas per day. Realizing these ambitious targets requires sustained investment to unlock untapped basins, advance the development of mature and frontier fields, and establish critical oil and gas infrastructure to secure our future energy needs and support the demands of Nigeria’s rapidly growing population.”

He said: “There are new frontier opportunities in onshore, shallow water and deep offshore blocks, especially in underexplored basins, enabled by our new licensing rounds regime. There are also other vast and compelling transformative opportunities particularly in natural gas development, gas-to-power initiatives, Liquefied Natural Gas (LNG) projects, FLNGs and Compressed Natural Gas (CNG) transportation infrastructure, aimed at enhancing both export capacity and domestic energy supply.

“In addition, attractive green investment prospects exist in decarbonisation technologies and renewable energy solutions, as well as a wide range of other investment and business opportunities in project financing, investment and technical services.

“The above narratives in a nutshell underscore the vast opportunities within Nigeria’s upstream oil and gas sector, driven by transformative reforms under the PIA, Presidential Executive Orders, supportive policies, tax incentives, and ongoing infrastructure improvements. With abundant natural resources, and a large, youthful, future-ready and innovative workforce, Nigeria stands as a compelling and competitive destination for both existing investors and new entrants seeking to participate in our dynamic and promising energy landscape.

“While challenges such as infrastructure deficits and investment apathy, fuelled by the global energy transition and environmental concerns, still exist, they are not insurmountable. With well-informed strategies and robust collaboration across local and regional stakeholders, these obstacles can be effectively addressed.

“In line with this, our forward agenda includes: sustaining competitive licensing rounds, accelerating frontier basin exploration; fast-tracking the reactivation of shut-in and dormant assets; advancing the 1MMBPD initiative; expanding evacuation infrastructure to secure production volumes; deploying the Advanced Cargo Declaration System to curb crude theft and improve export transparency; guaranteeing steady domestic crude supply to refineries; enforcing Executive Orders #40–42 to boost commercial viability, operational efficiency, and local content participation; advancing social investment, and regional energy integration; operationalising our decarbonisation strategies and enabling carbon market participation, and deepening gas commercialisation efforts across all initiatives.

.”He also said: “While hydrocarbons continue to generate nearly 90% of Nigeria’s foreign exchange earnings and 70% of government revenue, we are fully aware that the long-term viability of our energy sector depends on aligning growth with climate responsibility.

“Our gas-centric energy transition strategy is a cornerstone of this effort, anchored by flagship initiatives such as the Decade of Gas, the Nigerian Gas Flare Commercialisation Programme (NGFCP), and the Presidential CNG Initiative. These programmes collectively aim to eliminate routine gas flaring by 2030 and reduce methane emissions by 60% by 2031.

“We are working collaboratively with industry stakeholders to fully monetize Nigeria’s abundant gas resources through strategic LNG expansion, deployment of floating production solutions, and the development of cross-border pipelines designed not only to power Nigeria’s economy but to accelerate Africa’s broader industrialisation.

“Beyond infrastructure, the NUPRC is also championing the creation of a transparent, competitive, and investor-friendly gas market, unlocking the commercial potential of an estimated 600+ trillion cubic feet of gas resources (upward potential) and positioning Nigeria as a central hub in the global energy transition,” he said.