**Nigeria’s Upstream Regulator Sets Goal to Restore 2005 Production Levels**
*Lagos, Nigeria –* The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has announced a renewed focus on attracting fresh investment and safeguarding oil assets with the aim of returning the country’s crude output to the 2.5 million barrels per day (bpd) level recorded in November 2005.
The target, outlined in a recent article published by *The Sun Nigeria*, reflects the regulator’s intent to revive the production volumes that once positioned Nigeria as a leading member of the Organization of the Petroleum Exporting Countries (OPEC) and a significant player in the global oil market.
In November 2005, Nigeria’s crude oil production peaked at approximately 2.5 million bpd, a benchmark the NUPRC now seeks to replicate. The commission’s strategy emphasizes two key components:
1. **New Investments:** Encouraging both domestic and foreign investors to fund upstream projects, including exploration, development, and production activities.
2. **Oil Asset Protection:** Implementing measures to secure existing oil infrastructure and fields against sabotage, theft, and other disruptions that have historically hampered output.
The article did not provide specific timelines, funding amounts, or detailed policy mechanisms associated with the initiative. It also did not elaborate on the current production figures or the challenges that have led to the decline from the 2005 peak.
*The Sun Nigeria* is a Nigerian news outlet that reported the NUPRC’s stated objective. No additional statements from government officials or industry representatives were included in the piece.
Article and image source: thesun.ng
