Nigeria’s upstream petroleum sector is showing signs of recovery, with rig counts rising by 22.6% year-on-year to 73 in March 2026. Of these, 31 rigs are actively drilling, with land operations leading deployment. Under the leadership of Bayo Ojulari, NNPC Limited is also advancing the Bonga South-West/Aparo deepwater project. This initiative, involving major partners like Shell, Esso, and Agip, expects to attract up to $21 billion in investment and target 175,000 barrels of oil per day at peak production. The project is part of a broader push to reach three million barrels per day by 2030.