Nigeria Rallies Oil Firms to Close OPEC Production Gap
It’s official—Nigeria is stepping up its call to action for oil companies to raise their production levels and meet the national quota set by the Organisation of Petroleum Exporting Countries, OPEC. At the 2025 Nigeria Oil and Gas Opportunities Fair (NOGOF) in Yenagoa, Minister of State for Petroleum Resources (Gas), Chief Ekperikpo Ekpo, represented by the Ministry's Permanent Secretary, Mr. Emeka Obi, emphasized that stakeholders in the oil and gas industry must work collectively to close the current production gap.
As of the first quarter of 2025, Nigeria's oil output stood at approximately 1.4 million barrels per day—well below the OPEC quota of 1.8 million barrels per day. That’s a significant shortfall for a country with one of Africa’s largest proven oil reserves. The minister made it clear: the potential to meet and exceed this quota exists, but it will require unwavering collaboration, renewed investment, and a reenergized commitment from both local and international oil firms.
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This isn’t just about hitting numbers—it’s about Nigeria reinforcing its place as a reliable player in the global energy market. The nation has what it takes: robust reserves, experienced stakeholders, and, increasingly, stronger indigenous capacity. The progress of local content is a prime example of this. From a mere 5% in 2010 to a staggering 56% in 2024, Nigerian participation in the oil and gas sector is on a strong upward trajectory. That means more jobs for locals, more value retained in-country, and more opportunities for sustainable development.
Ekpo also commended the efforts of the Nigeria Content Development and Monitoring Board (NCDMB) for spearheading initiatives that promote homegrown capabilities. Events like NOGOF are not just trade fairs; they are critical forums for dialogue, investment scouting, and strategic alignment between government and private sector players.
The call to increase production isn’t just a directive—it’s a national mission. With global oil demand still strong and prices volatile, now is the time for Nigeria to assert its capacity. The tools are in place, the expectations are clear, and the world is watching. It’s not just about meeting a quota—it’s about proving that Nigeria can lead the charge in energy production, while building a resilient and inclusive sector at home.
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