Nigerian Independent Producers Raise Share of Oil Output to 27%

Nigerian independent oil and gas producers have increased their contribution to the country’s hydrocarbon production from 12 per cent a decade ago to 27 per cent, according to a recent analysis by Wood Mackenzie.

Reacting to the report, Renaissance Africa Energy Company said the findings underscore the growing role of indigenous operators in shaping the future of Nigeria’s upstream petroleum sector.

In a post on LinkedIn, the company noted that it was identified among the leading indigenous firms driving the next phase of growth in the country’s oil and gas industry.

Renaissance described the recognition as a reflection of the dedication of its workforce, the strength of local expertise and the increasing capacity of Nigerian companies to drive investment, operational excellence and energy security.

The company said the rise of indigenous operators highlights a broader shift within the sector, with local firms taking on a greater role in managing strategic assets and sustaining production growth.

“The future of Africa’s energy story will increasingly be written by African companies,” Renaissance stated.

The company added that it is proud to be part of the ongoing transformation of the continent’s energy landscape as indigenous operators continue to expand their influence across the industry.

The growing contribution of local producers comes amid efforts by Nigeria to boost crude oil and gas output, attract fresh investments and strengthen energy security through increased participation by indigenous companies.

Nigeria plans to boost national gas production to 12 billion cubic feet per day (Bcf/d) and daily oil production to 3 million barrels by 2030 while attracting over $60 billion in new investments across the oil and gas sector.