Nigeria to Push for Increased Oil Quota at OPEC Meeting
The Federal Government of Nigeria has announced plans to advocate for an increase in the country’s oil production quota at the upcoming Organisation of Petroleum Exporting Countries (OPEC) meeting in November. The current quota stands at 1.5 million barrels per day, but the government believes this no longer reflects the country’s true production capacity.
According to the Minister of State for Petroleum Resources, Heineken Lokpobiri, Nigeria’s current crude oil production is around 1.7 million barrels per day, with a target of 2.2 million barrels per day outlined in the 2025 budget. The minister expressed confidence that the country’s improved output levels, strengthened infrastructure, and renewed investments in the upstream sector will support the case for a higher quota.
Lokpobiri noted that the sustained recovery in production, improved regulatory environment, and fresh inflow of investment into the oil and gas sector have positioned Nigeria to make a strong case for an increase. He emphasized that the country’s actual output includes condensates, a lighter form of crude not covered by OPEC’s production limits, which provides flexibility without violating the quota.
The minister attributed the production rebound to improved security and better pipeline integrity across the Niger Delta. He stated that years of pipeline vandalism and oil theft had crippled Nigeria’s production capacity, but recent interventions by security agencies and community partnerships had reversed the trend. The country’s rig count has jumped from 14 to nearly 50 and is expected to rise further by year-end.
Nigeria’s case for a higher quota will be supported by verifiable production data, domestic crude supply obligations, and evidence of renewed capacity. The minister believes that the country has the capacity to produce above two million barrels per day and is confident that the OPEC meeting will provide an opportunity to make a strong case for an increase. If successful, the increased quota could have significant implications for Nigeria’s oil industry and economy.