NSA Ribadu announced the restart during an APC summit, calling it a milestone in Nigeria’s oil recovery efforts.
RIPPLES NIGERIA
The federal government is set to resume oil drilling in Ogoniland, Rivers State, for the first time in over 30 years—a move expected to significantly boost Nigeria’s crude oil production. National Security Adviser Nuhu Ribadu disclosed this at the APC National Summit in Abuja on Thursday, highlighting it as part of President Tinubu’s broader reforms.
Ribadu stated, “Nigeria’s oil production has risen to an average of 1.8 million barrels per day in 2025,” attributing it to increased security and policy shifts.
The planned restart in Ogoniland could add 50,000–100,000 barrels daily, improving Nigeria’s OPEC output compliance and foreign exchange inflows. Analysts believe this may stabilize the naira, strengthen external reserves, and reduce FX market pressure.
However, the development revives concerns over environmental safety and local engagement in the oil-rich but historically marginalized region.
Market watchers also expect marginal improvement in Nigeria’s Eurobond profile and investor confidence, as stronger oil exports enhance debt sustainability.