Nigeria to Push for Higher OPEC Quota at November Meeting – Lokpobiri

 Nigeria will formally demand an upward review of its crude oil production quota at the next meeting of the Organisation of Petroleum Exporting Countries (OPEC) scheduled for November, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has said.

Lokpobiri disclosed this in Abuja while speaking with the media team of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), during a review of Nigeria’s upstream performance four years after the enactment of the Petroleum Industry Act (PIA).

According to the minister, Nigeria’s current OPEC production quota — pegged at about 1.5 million barrels per day (bpd) — no longer reflects its actual capacity, given the country’s steady production rebound and improved infrastructure.

“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,” Lokpobiri said.
“There’s no better time than now for us to make a strong case for Nigeria’s quota to be reviewed to two million barrels per day and above.”

He explained that Nigeria’s output, including condensates — a lighter, higher-value form of crude not covered by OPEC limits — currently averages between 1.7 million and 1.8 million bpd, and could exceed two million bpd if allowed.

“Condensate is not counted in OPEC production, yet it sells at a higher price,” Lokpobiri said.
“If we do 1.5 million barrels of crude and one million barrels of condensate, we are still within the rules. Right now, an assessment of our production capacity is ongoing, and we believe we will show the world that Nigeria can produce more than two million barrels daily.”

The minister attributed the country’s improved output to better security coordination in the Niger Delta and enhanced pipeline integrity, noting that crude oil pumped into pipelines now reaches export terminals almost fully intact.

“Before now, companies were scared to produce because crude pumped into pipelines hardly got to the terminal,” he said. “Today, if you put in crude, you get 100 per cent at the export point.”

He also cited a sharp rise in Nigeria’s rig count — from about 14 to nearly 50 — and said it was expected to grow further before year-end, underscoring the renewed activity in the upstream sector.

Lokpobiri further commended the NUPRC, led by Chief Executive Gbenga Komolafe, for restoring investor confidence through transparency and consistent enforcement of the PIA.

“The PIA brought stability to the regulatory framework, and NUPRC has been doing an excellent job. It has become a reference point for many countries coming to learn how Nigeria regulates its upstream sector,” he noted.

He added that the establishment of the African Petroleum Regulatory Forum, under Nigeria’s coordination, was part of broader efforts to unify the continent’s voice in global energy governance.

Addressing production costs, the minister acknowledged that Nigeria’s cost per barrel remains higher than the global average but said President Bola Tinubu’s executive orders had significantly reduced operating costs and improved competitiveness.

“Our cost of production is higher than the global average, but we’re taking steps to bring it down,” Lokpobiri stated.
“The global average is perhaps $12 per barrel, but ours is above that. Having identified the problem, we are taking steps to address it.”

On the wider African energy outlook, the minister reiterated that oil and gas would remain central to the continent’s growth for decades, stressing that Africa must define its own energy-transition path rather than adopt Western timelines.

“Africa contributes less than three per cent of global emissions. We cannot industrialise without reliable power,” he said.
“Energy transition means different things to different regions. For us, it means ensuring energy access before talking about transition.”

Lokpobiri emphasised that Nigeria would leverage its hydrocarbon wealth to finance its energy mix, combining oil, gas, solar, and hydro power to ensure balanced development.

“We have to use the resources we have to raise what we need to finance our energy mix,” he said.
“The United States produces over 20 million barrels a day. Why should we stop?”

Nigeria’s delegation will attend the OPEC meeting in November, where the country is expected to push for a higher production ceiling based on verified capacity data and improved compliance with domestic supply obligations under the PIA.