Nigeria is on track to reach its target of producing 3 million barrels of oil per day by 2030, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This growth is driven by government reforms, including faster permitting and new tax incentives aimed at attracting investment. Production has already seen a boost, reaching an average of 1.56 million barrels per day in June, the highest level since April 2020. However, industry analysts note that sustainable long-term growth will require significant new exploration and development rather than just reactivating mature fields.