Nigeria’s Oil Output Hits 1.8m Barrels Daily as U.S. Firms Eye Investments

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Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has announced that the country’s crude oil production has risen from 1 million to 1.8 million barrels per day, with a target of 2.5 million barrels. He disclosed this at the inaugural Africa Energy Investment Summit (AE Invest 2025) in New York, where he revealed that American companies are already showing strong interest in Nigeria’s oil blocks.

Speaking during a panel session, Lokpobiri stressed the importance of continued investment in fossil fuels for Africa’s growth.
“Africa must not be deceived into abandoning fossil fuels while the West continues to expand production. Our hydrocarbons will finance our transition not charity, not aid,” he declared.


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Also addressing the summit on behalf of Equatorial Guinea’s Vice President, H.E. Nguema Obiang Mangue, the Minister of Hydrocarbon Mining Development, H.E. Antonio Oburu Ondo, urged urgent action to reclaim Africa’s control over its energy future.
“Africa holds 40% of the world’s natural resource discoveries yet remains at the mercy of financiers in London, Paris, and New York. Energy finance is a question of sovereignty. We must build the African Energy Bank, mobilize our sovereign wealth and pension funds, and secure Africa’s rightful place as a global energy leader,” he said.

The Secretary General of the African Petroleum Producers Organization (APPO), Dr. Omar Farouk Ibrahim, highlighted the timing of the summit, noting that the United Nations General Assembly provides the right platform to unite leaders, investors, and stakeholders in unlocking financing for Africa’s energy future.


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