Aradel Holdings Plc has set an ambitious long-term production roadmap targeting 3 million barrels of oil per day by 2030, with its management stressing that future output must go beyond volume to focus on efficiency, transparency, and sustainability.
The Managing Director and Chief Executive Officer of Aradel Holdings, Gbite Falade, disclosed this while speaking at a panel session during the Society of Petroleum Engineers (SPE) OLEF 2026 conference, where he outlined the company’s phased growth strategy and broader national energy aspirations.
According to Falade, Aradel is first working toward achieving 2 million barrels by 2027 as an intermediate milestone before scaling up to the 3 million-barrel target by the end of the decade.
However, he cautioned that Nigeria’s oil ambitions must not be judged solely by output figures, but by how efficiently and responsibly those barrels are produced.
Focus on “Smart Barrels” Over Volume
Falade emphasized that the real value of production lies in cost efficiency, reliable data systems, environmental responsibility, and sound fiscal frameworks.
He argued that Nigeria’s upstream sector must transition from traditional production methods to a digitally driven system where every barrel is traceable, optimized, and supported by accurate subsurface intelligence.
“The ambition is not just about producing 3 million barrels,” he noted in essence. “It is about producing intelligent, optimized, transparently managed, and sustainably financed barrels.”
Three Pillars for Sector Transformation
The Aradel CEO outlined three critical pillars required to unlock Nigeria’s full production potential:
1. Digital Infrastructure:
Falade stressed that without robust digital systems, production targets would lack intelligence and efficiency. He called for infrastructure that enables real-time data monitoring, predictive maintenance, and better reservoir management.
2. Capital Mobilisation:
He identified access to investment as the “fuel” of the industry, noting that underfunding remains a key constraint to scaling production and optimizing existing assets.
3. Policy Frameworks:
While commending the Petroleum Industry Act (PIA), Falade said policy reforms must continue evolving to support digital transformation and attract long-term capital into the sector.
Warning Against Sector Imbalance
Falade warned that imbalance among the three pillars could undermine progress. He explained that digitization without funding results in stalled pilot projects, while capital without digital systems leads to inefficient operations and underperforming assets.
He also noted that investment without supportive regulation creates friction between operators and regulators, slowing down sector growth.
According to him, the absence of harmonisation among policy, capital, and technology remains one of the major structural challenges limiting Nigeria’s oil and gas performance.
Call for Integrated Energy Future
Falade concluded that Nigeria’s ambition to reach higher production levels will only be achievable if the industry builds a fully integrated system where technology, investment, and regulation work in sync.
He maintained that Aradel’s strategy is not just to increase output but to redefine production standards across the sector.
Aradel Holdings CEO Gbite Falade says the company aims for 3 million barrels by 2030, urging stronger digital infrastructure, capital mobilisation, and policy reforms to ensure efficient and sustainable oil production in Nigeria.
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