Renaissance Africa Energy Company Limited has outperformed expectations by exceeding its oil production target by 40 percent in its very first month of operations, signaling a strong start for Nigeria’s oil sector.

The achievement was confirmed by company spokesperson Michael Adande in a statement released Friday. “This significant boost for the joint venture reflects a positive outlook for Nigeria’s oil production prospects and broader economic development,” Adande said.

The Nigerian National Petroleum Company (NNPC) Limited, which holds a 55 percent stake in the joint venture, praised Renaissance’s performance as “sterling and remarkable.”

In a letter signed by Udobong Ntia, NNPC’s executive vice president for upstream operations, the company commended Renaissance for exceeding April 2025 production targets and expressed confidence in the joint venture’s future.NNPC reaffirmed its ambition to scale Nigeria’s crude oil production to over 2 million barrels per day by the end of 2025, aiming for 3 million barrels daily by 2030.

Renaissance’s Managing Director and CEO Tony Attah described the recognition as “encouraging and motivating,” adding, “For us, it is a taste of the new beginning we have promised.” He also emphasized the company’s commitment to exploring new projects and operational strategies to further unlock production potential while maintaining existing output.

The company took over operations from Shell Petroleum Development Company of Nigeria in December 2024, after securing all federal government approvals.

This early success is attributed to effective collaboration with host communities, government bodies, JV partners, and the dedication of Renaissance’s workforce.

The strong start for Renaissance highlights Nigeria’s growing energy landscape and sets a positive tone for the country’s oil production ambitions in the coming years.