Growth, Operational Excellence Identified As Key For Indigenous Operators Target

Nigeria’s Indigenous firms are looking forward towards operational efficiency to drive Nigeria’s production target. Their new business outlook is adding value to Nigeria’s expanding production growth with oil production averaging 1.56 million barrels a day (mbpd) in June 2026.

This marked the highest monthly crude output since April 2020 and exceeding Nigeria’s 1.5 mbpd OEC quota by approximately 4.0 per cent.

According to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) total crude production rose to 1.735 mbpd, representing 2.2 per cent month on month increase from May and extending recovery to a fourth consecutive month.

LEADERSHIP reports that indigenous oil and gas company, Ingentia Energies Limited, has initiated a growth plan after appointment of Engr. Victor Agbaroji, as its new Managing Director/Chief Executive Officer, effective September 1, 2026, with a commitment to consolidate existing achievements and drive the company into a new phase of growth.

Agbaroji pledged to build on the solid foundation already established. “Our immediate focus is to consolidate and sustain the gains we have made.
Ingentia Energies has set the pace among its peers in growing the company since the acquisition of its licence, and we intend to maintain that momentum holding in high esteem our company’s greatest assets-people, and taking into recognition the importance of safety, talent development, innovation and cost competitiveness.

“The IEL will ensure that our people work safely and return home to their loved ones every day. At the same time, we will continue to develop talents, improve efficiency, embrace innovative ways of creating value, and deliver strong returns to our shareholders and stakeholders while affirming our commitment to supporting Nigeria’s energy aspirations, including the national target of increasing crude oil production to three million barrels per day.”’

Agbaroji brings over 31 years of extensive experience spanning the entire oil and gas value chain after serving as a well test engineer, working across several fields before joining Shell as a Reservoir Engineer.
In a similar situation, Seplat Energy has unveiled a fresh plan that targets 500 000 barrels of oil per day (bpd) and a $1 billion dividends payout to shareholders as it moves to boost Nigeria’s production target.

The company’s chief executive officer Effiong Okon, while speaking at the African Oil Week (AOW) 2026 in Accra, Ghana, said the company has demonstrated resilience and encouraged by ongoing fiscal reforms by government.