Nigeria will push for a higher crude oil production quota from the Organisation of Petroleum Exporting Countries (OPEC) during its next meeting in November, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has announced.
Lokpobiri made this known in Abuja during an interview with the media team of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), where he reviewed the performance of the upstream sector four years after the Petroleum Industry Act (PIA) took effect.
He said Nigeria’s current OPEC quota of 1.5 million barrels per day no longer reflects the country’s true production potential, adding that the government would seek an upward review to at least two million barrels per day.
“The OPEC quota is subject to periodic review, and by November, we will certainly make a strong case for Nigeria. We believe the time has come to increase our quota to two million barrels per day or more,” Lokpobiri said.
He stated that Nigeria’s improved output levels, strengthened infrastructure, and renewed investments in the oil and gas industry provide sufficient justification for a quota increase. According to him, Nigeria is currently producing about 1.7 million barrels daily, including condensates, and has the capacity to exceed two million barrels.
“Condensate is not counted in OPEC production, yet it sells at a higher price. If we produce 1.5 million barrels of crude and one million barrels of condensate, we remain within the rules. We are currently undergoing an assessment to demonstrate our true capacity to the world,” he added.
Lokpobiri attributed the steady recovery in production to improved security, better pipeline integrity, and renewed investor confidence. He commended the Nigerian security agencies and host communities for tackling pipeline vandalism and crude oil theft, which had crippled production in the past.
He noted that Nigeria’s rig count has risen from 14 to nearly 50, indicating strong upstream activity. The minister also praised indigenous operators such as Renaissance and Seplat for their performance following asset acquisitions from Shell and ExxonMobil, respectively.
“Our indigenous producers are doing excellently. Renaissance has increased production by over 60,000 barrels daily since acquiring Shell’s assets, while Seplat has added about 40,000 barrels from ExxonMobil’s portfolio,” he said.
Lokpobiri credited the NUPRC, under the leadership of Engr. Gbenga Komolafe, for stabilizing regulation through the consistent enforcement of the PIA and for restoring investor confidence in Nigeria’s upstream sector.
He said President Bola Tinubu’s executive orders had helped reduce production costs and make the Nigerian oil sector more competitive, noting that the government’s target of achieving 2.06 million barrels per day by 2025 was within reach.
Lokpobiri also emphasized that Africa must define its own energy transition pathway, arguing that the continent cannot industrialize without first ensuring reliable access to power.
“Africa contributes less than three percent of global emissions. We cannot industrialize without reliable power. Energy transition means different things to different regions. For us, it means ensuring access before transition,” he said.
