Wedoany.com Report-Oct 10，Oil sector fiscal reforms by the Federal Government have attracted more than $50 billion investments for the country. 

Remarkably, an investors, that is impressed by the fiscal incentives thrown up by the reforms in the oil sector is bringing in at least $20 billion investment into the nation’s oil industry. 

Dr. Heineken Lokpobiri, the Minister of State for Petroleum (oil), who said this at a media chat in Abuja, said Nigeria’s target is to push oil production to at least three million barrels per day and increase Nigeria’s oil revenue substantially. 

The minister boasted that as a result of the solid reforms and the impact they are generating in Nigeria, many of the companies that had exited Nigeria due to adverse operating environment, are now returning to Nigeria for business in the oil industry. 

Lokpobiri, made it clear that Nigeria is desirous of ramping up its oil production to a point that it would become self-sufficient in oil production and a reference point for the Organisation of Oil Exporting Countries, OPEC. 

He said one of the ways to raise oil output in the country would be through the unlocking of many oil wells that had been drilled in the Niger Delta but capped for various reasons.