Nigeria targets oil output of 2.1 mln barrels per day by end of year
ABUJA, July 17 (Reuters) -Nigeria aims to raise oil production to a daily average of 2.1 million barrels before the end of the year by attracting new investments, President Bola Tinubu said on Wednesday.
Oil output in Africa's top exporter has fallen in recent years, hobbled by large-scale theft and sabotage as well as the withdrawal of oil majors such as Exxon Mobil XOM.N and Shell SHEL.L from land fields to focus on offshore exploration.
Nigeria pumped about 1.25 million barrels of oil per day in June, up 1.57% from May, data from the Organization of Petroleum Exporting Countries (OPEC) shows.
"Our goal is to attract more investment in the oil and gas industry and grow our oil production to 2.1 million barrels a day by December 2024," Tinubu said in a speech delivered on his behalf by Vice President Kashim Shettima at a conference of African energy ministers in Abuja.
Reporting by Camillus Eboh
Writing by Elisha Bala-Gbogbo
Editing by David Goodman
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