2027 Presidency: Accord’s Hashim Unveils Plan To Raise Nigeria’s Oil Production

The presidential candidate of the Accord Party, Gbenga Olawepo-Hashim, has promised to push Nigeria’s crude oil production to at least four million barrels per day within 24 months if elected in 2027.

Hashim said his plan would focus on bringing thousands of inactive oil wells back into production instead of spending limited public funds on projects that may not generate revenue for the government.

The Accord candidate made this known during an appearance on Channels Television’s Politics Today, where he outlined his Energy First Presidential Agenda, Naija News reports.

According to Hashim, about 3,000 oil wells that have already been drilled but are currently not producing would be targeted under his proposed programme.

He said the wells, along with existing oil infrastructure, could help Nigeria quickly increase its production if the right investments and technical support were provided.

“We have oil wells that have already been drilled, assets that have already been discovered and infrastructure that have already been built. Our first task is to put these assets back to work for Nigeria,” he said.

Hashim argued that recovering existing productive assets should be given priority over committing public funds to projects such as the Lagos-Calabar Coastal Highway.

He said the coastal highway might not generate revenue for the government in the next 20 years, unlike investments aimed at restoring oil production.

Naija News understands that Nigeria currently produces about 1.5 million barrels of crude oil per day. Hashim’s proposed target of four million barrels daily would therefore mean an increase of about 2.5 million barrels per day.

The Accord candidate said Nigeria’s major challenge was not a lack of oil resources but the failure to make full use of existing petroleum assets.

He said an Accord government would make the recovery of oil production one of its first priorities.

Hashim explained that each inactive but viable oil well would be assessed to determine why it was no longer producing, after which the necessary funds and technical solutions would be provided.

He listed possible interventions to include well repairs and workovers, well intervention, artificial lift systems, repairs to gathering facilities, pipeline rehabilitation and improved evacuation arrangements.

According to him, the 3,000 inactive wells represent a major loss of Nigeria’s productive capacity.

“The question is not how much oil Nigeria has underground. The question is why we are not producing the oil that our existing assets are capable of producing,” he said.

Hashim also proposed the establishment of a National Production Recovery Dashboard to monitor every intervention, investment and additional barrel of crude generated under the programme.