The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has announced that Nigeria will request an upward review of its oil production quota at the next meeting of the Organization of the Petroleum Exporting Countries (OPEC), scheduled for November.
Lokpobiri, who spoke in Abuja during an interview with the media team of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said Nigeria’s current OPEC quota of about 1.5 million barrels per day (bpd) no longer reflects the country’s true production capacity.
According to him, Nigeria is now producing around 1.7 million barrels per day, including condensates, and has the capacity to produce above two million barrels daily.
“The OPEC quota is subject to periodic review, and by November, when we attend the annual meeting, we will make a strong case for Nigeria’s quota to be reviewed to two million barrels and above,” Lokpobiri said.
He expressed optimism that Nigeria’s recent production recovery, strengthened infrastructure, and renewed investments in the oil and gas sector have positioned the country to justify a higher allocation within the OPEC framework.
The minister explained that part of Nigeria’s current production includes condensates — a light, high-value form of crude not counted under OPEC’s production limits — which gives the country room to increase output without breaching its quota.
“Condensate is not part of OPEC’s production quota, yet it sells at a higher price. If we produce 1.5 million barrels of crude and one million barrels of condensate, we remain compliant. We are also conducting an assessment to verify our capacity, and we believe it will confirm that Nigeria can produce well over two million barrels per day,” he stated.
Lokpobiri said verifiable production data, evidence of domestic crude supply obligations under the Petroleum Industry Act (PIA), and proof of renewed capacity would form part of Nigeria’s submission at the upcoming OPEC meeting.
He attributed the rebound in production to improved security across the Niger Delta and restored pipeline integrity, noting that oil companies now deliver their full output to export terminals.
“Before now, companies were reluctant to produce because crude pumped into pipelines rarely reached the terminal. Today, we get 100 per cent of what is pumped,” he said.
According to the minister, Nigeria’s rig count — a key indicator of upstream activity — has risen sharply from around 14 to nearly 50, reflecting renewed confidence and expanded exploration activity.
He also highlighted the positive impact of recent divestments by international oil majors, including Shell, TotalEnergies, and ExxonMobil, which have opened the space for indigenous operators.
“Our local producers are doing excellently. Renaissance has increased output by over 60,000 barrels per day since acquiring Shell’s assets, while Seplat has added around 40,000 barrels from the ExxonMobil portfolio,” Lokpobiri said.
Commending the NUPRC under its Chief Executive, Engr. Gbenga Komolafe, Lokpobiri said the Commission has restored investor confidence through consistent enforcement of the PIA and improved regulatory transparency.
He further noted that Nigeria’s regulatory expertise had made it a continental reference point, citing the creation of the African Petroleum Regulatory Forum (AFRIPERF) under NUPRC’s coordination as evidence of Nigeria’s growing leadership in regional energy governance.
“The forum aims to unify Africa’s voice in global energy policy and promote equitable investment and energy access,” he said.
The minister credited President Bola Tinubu’s executive orders for helping reduce production costs and make Nigeria’s oil industry more globally competitive.
“When I took office, production was around one million barrels per day. Today, it stands between 1.7 and 1.8 million barrels. That’s progress, but we’re not stopping there,” he said.
Lokpobiri acknowledged that Nigeria’s cost of production remains higher than the global average but said ongoing reforms were addressing the issue.
“Saudi Arabia produces at about $8 per barrel, while the global average is around $12. Ours is higher, but we are taking deliberate steps to make our production cost-competitive,” he noted.
On the global energy transition, the minister stressed that oil and gas would remain critical to Africa’s development for decades, arguing that the continent must define its own transition path based on energy access realities.
“Africa contributes less than three per cent of global emissions. We cannot industrialise without reliable energy. For us, the transition means ensuring access before abandoning hydrocarbons,” he said.
He added that Africa must use its natural resources to finance its own energy mix, rejecting what he described as “Western hypocrisy” in the transition debate.
“It is the right time for AFRIPERF to advocate Africa’s case. The same countries telling us to cut production are ramping up theirs — the U.S. produces over 20 million barrels a day. Why should we stop?” Lokpobiri queried.
Lokpobiri reaffirmed that Nigeria’s target of producing 2.06 million barrels per day by 2025 remains achievable, backed by improved infrastructure, new investments, and policy stability.
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