Nigeria to Seek Higher OPEC Quota as Crude Output Nears Two Million Barrels — Lokpobiri
Abuja, Nigeria — Nigeria is set to push for a higher crude oil production quota at the forthcoming Organisation of Petroleum Exporting Countries (OPEC) meeting in November, as the nation’s output edges closer to two million barrels per day.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made the disclosure during an interview with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) media team in Abuja, as reported by The Punch.
According to Lokpobiri, Nigeria’s current OPEC quota of around 1.5 million barrels per day (bpd) no longer reflects the nation’s production capacity.
“The OPEC quota is subject to periodic review, and by November, when we attend the annual meeting, we will certainly be making a case for a higher quota for Nigeria. I believe there’s no better time than now for us to make a strong case for our quota to be reviewed to two million and above,” he stated.
The minister said that Nigeria’s production has steadily recovered to around 1.7 million barrels per day, including condensates, crediting the improvement to enhanced security in the Niger Delta, infrastructure rehabilitation, and renewed investment in the upstream sector.
“When I assumed office, our production was below the OPEC quota of 1.5 million barrels per day. Today, we are producing about 1.7 million, and we have the capacity to exceed two million barrels per day. It’s time for an upward review,” Lokpobiri said.
He further explained that condensate output — which is not subject to OPEC limits — provides Nigeria with additional flexibility and profitability, noting that condensates command a higher market value.
The minister emphasized that the reduction in oil theft and vandalism has been key to production recovery.
“Before now, companies were reluctant to produce because crude pumped into pipelines rarely got to the terminals. Today, what goes in is what comes out — 100 percent,” he said.
Lokpobiri highlighted a sharp rise in Nigeria’s rig count from 14 to nearly 50, describing it as a clear sign of industry revival. He praised indigenous oil producers like Renaissance and Seplat for filling the production gap left by international oil companies’ divestments.
Commending the NUPRC leadership under Engr. Gbenga Komolafe, the minister said the consistent enforcement of the Petroleum Industry Act (PIA) has restored investor confidence.
“The PIA brought regulatory stability, and the NUPRC has done an excellent job in implementing it,” Lokpobiri noted.
Looking ahead, he expressed optimism that Nigeria could achieve a production target of 2.06 million barrels per day by 2025, citing supportive policies and President Bola Tinubu’s executive orders aimed at cutting production costs.
Lokpobiri also called for a pragmatic approach to global energy transition efforts.
“Africa contributes less than three percent of global emissions. We cannot industrialise without power. Energy transition means different things to different regions. For us, it means ensuring energy access before talking about transition,” he said.
