The Federal Government has drastically cut the time it takes to approve applications for reactivating idle oil wells, aiming to increase crude output and capitalize on high global oil prices.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) now grants approvals within hours, a sharp contrast to the previous timeline of two to six weeks, according to sources cited by Bloomberg. This move is part of a broader strategy to quickly ramp up production while crude hovers near $100 per barrel.

A spokesperson for the commission confirmed the accelerated process, emphasizing that “speedy approvals” are being applied across all projects that can enhance oil output. Indigenous oil companies, in particular, are showing strong interest in reviving suspended or underutilized wells, which require less investment and can bring oil to market faster than new drilling projects.

Despite the push, Nigeria’s oil production remains below target. February figures showed an output of 1.31 million barrels per day, the lowest in 17 months, affected largely by maintenance at Shell Plc’s major facility. This remains far below both the nation’s peak output of over 2 million barrels per day and its current production target of 1.84 million barrels per day.

The government’s urgency comes as global buyers look to Africa for oil amid Middle East tensions, intensifying competition among producers. In addition to fast-tracking well reactivation permits, NUPRC has simplified approvals for evacuation operations and barge deployment, aiming to remove operational bottlenecks.

Minister of State for Petroleum Resources, Heineken Lokpobiri, urged operators to seize the current opportunity, highlighting initiatives that can deliver immediate production gains, including well re-entry programs and in-field development. He also reassured investors of Nigeria’s supportive regulatory environment and ongoing reforms to strengthen investor confidence.