With the Federal Government targeting 2.06 million barrels per day in 2025, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, on Tuesday, warned that oil blocks not being developed could be withdrawn. He announced that the government would enforce the “drill or drop” provisions of the Petroleum Industry Act (PIA) to boost production. As of February 2025, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported oil production at 1.67 million barrels per day. According to a statement by his Media Aide, Nneamaka Okafor, Lokpobiri made this declaration at a Cross Industry Group meeting in Florence, Italy, organized by International Oil Companies (IOCs) operating in Nigeria. The meeting addressed sector challenges, expectations, and strategies to strengthen domestic energy supply and expand across Sub-Saharan Africa. According to the Minister, “We cannot continue to have assets sitting idle for 20 to 30 years without development. If you are not utilizing an asset and it remains underdeveloped for decades, it neither adds value to your books nor to us as a country. “We encourage industry players to explore collaborative measures such as shared resources for contiguous assets, farm-outs, and the release of underutilized assets to operators ready to invest in production. Otherwise, like any responsible government, we will take back these assets and allocate them to those willing to go to work”. The Minister encouraged operators to explore farm-out agreements for assets near existing infrastructure, rather than investing heavily in new Floating Production Storage and Offloading (FPSO) units. Lokpobiri also called on International Oil Companies (IOCs) in Nigeria to increase investment in the oil and gas sector, emphasizing that President Bola Ahmed Tinubu's administration has provided all necessary incentives for smooth and profitable operations.