Nigeria Pushes Oil Firms to Boost Production Amid OPEC Quota

Yenagoa, Nigeria — The Minister of State for Petroleum Resources, Chief Ekperikpo Ekpo, urged oil and gas stakeholders on Wednesday to work together to meet the production quota set by the Organisation of Petroleum Exporting Countries (OPEC).

Speaking at the ongoing 2025 Nigeria Oil and Gas Opportunities Fair (NOGOF), Ekpo, represented by Permanent Secretary Mr. Emeka Obi, emphasized the need for collaboration within the industry. The fair’s theme is “Driving Investment and Production Growth: Shaping a sustainable Oil and Gas Industry through Indigenous Capacity Development.”

According to Ekpo, Nigeria’s oil production currently stands at 1.4 million barrels per day, falling short of the OPEC-approved quota of 1.8 million barrels daily. He pointed out that with the nation’s oil reserves and commitment from industry stakeholders, meeting this quota is achievable.

Ekpo praised the Nigeria Content Development and Monitoring Board (NCDMB) for organizing the fair, which highlights opportunities for local companies. He noted the increase in Nigerian content in the oil sector from five percent in 2010 to 56 percent in 2024, calling it a commendable accomplishment.

The call to action comes as Nigeria aims to enhance its oil production capacity, seeking to fulfill its OPEC obligations and stimulate economic growth.