Nigeria will seek an increase in its oil production quota at the next meeting of the Organisation of Petroleum Exporting Countries (OPEC) scheduled for November, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said.
Speaking in Abuja on Tuesday during an interview with the media team of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Lokpobiri said Nigeria’s current quota of about 1.5 million barrels per day no longer reflects the country’s true 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,” he stated.
“There’s no better time than now for us to push for an increase to at least two million barrels per day.”
The minister said Nigeria’s improved production levels, stronger infrastructure, and renewed investment in the upstream sector have positioned the country to justify a higher allocation.
“When I became minister, our production was below 1.5 million barrels per day.
“Today, we’re producing around 1.7 million barrels, including condensates, and we have the capacity to produce above two million. It’s time to review the quota upward,” he said.
Lokpobiri noted that condensates — a lighter form of crude not regulated under OPEC limits — give Nigeria additional production flexibility.
“Condensate is not counted in OPEC production, yet it sells at a higher price,” he explained.
“If we produce 1.5 million barrels of crude and one million barrels of condensate, we remain within OPEC rules.”
He said Nigeria’s case at the OPEC meeting would be backed by verifiable production data, domestic crude supply obligations under the Petroleum Industry Act (PIA), and evidence of renewed capacity.
The minister credited the country’s production rebound to improved security and better pipeline integrity across the Niger Delta.
“Before now, companies were reluctant to produce because crude pumped into pipelines rarely got to the terminals.
“Today, whatever goes in arrives at the export point,” he said.
According to him, Nigeria’s rig count — a key indicator of upstream activity — has risen from about 14 to nearly 50 and is expected to increase further by the end of the year.
Lokpobiri also praised the growing role of Nigerian-owned companies following the divestment of onshore and shallow-water assets by oil majors such as Shell, TotalEnergies, and ExxonMobil.
“Our indigenous producers are performing excellently,” he said.
“Renaissance has added over 60,000 barrels per day since taking over Shell’s assets, while Seplat has increased production by about 40,000 barrels from the ExxonMobil portfolio.”
He commended the NUPRC, led by Engr. Gbenga Komolafe, for restoring investor confidence and enforcing the PIA with transparency.
“The PIA has brought stability to the regulatory environment, and NUPRC has become a model for other countries,” Lokpobiri said.
He also highlighted the establishment of the African Petroleum Regulatory Forum (AFRIPERF), coordinated by the NUPRC, as evidence of Nigeria’s growing influence in regional energy governance.
“The forum will help unify Africa’s voice in global energy policy and push for fair investment and energy access across the continent,” he explained.
Lokpobiri further lauded President Bola Tinubu’s executive orders for reducing production costs and improving competitiveness in the oil sector.
He noted that Nigeria’s goal of producing 2.06 million barrels per day by 2025 was achievable, given the improved infrastructure, policy consistency, and rising investments.
“When I took office, we were producing about one million barrels daily.
“Today, output is between 1.7 and 1.8 million barrels,” he said.
“Our production cost is still above the global average, but we are making steady progress toward competitiveness.”
On energy transition, Lokpobiri argued that Africa must define its own pathway, stressing that oil and gas will remain central to the continent’s development for decades.
“Africa contributes less than three per cent of global emissions, yet we’re being asked to abandon our hydrocarbons,” he said.
“We must first ensure energy access before transition. Our abundant oil and gas should finance our renewable energy development.
“What the West is doing is hypocrisy — while asking us to cut production, they’re increasing theirs.
“The U.S. produces over 20 million barrels daily. Why should we stop?”
The minister reaffirmed that Nigeria would continue leveraging its oil resources to drive industrial growth, attract investment, and strengthen energy security across Africa.
- China–Nigeria trade hits $20bn as envoy backs education support - December 12, 2025
- FG approves N6.43trn PPP projects to boost infrastructure, spur investment - December 12, 2025
- Bayelsa declares three-day mourning for late Dep Gov - December 12, 2025
