Ekperikpe Ekpo, minister of state for petroleum resources (gas), has urged oil and gas stakeholders to collaborate to meet the quota approved by the Organization of Petroleum Exporting Countries (OPEC).
Ekpo, who was represented by Emeka Obi, permanent secretary at the ministry of petroleum resources, made the call while speaking at the ongoing 2025 Nigeria Oil and Gas Opportunities Fair (NOGOF) in Yenagoa, Bayelsa.
According to NAN, Ekpo said the oil output of 1.4 million barrels per day (bpd) as of the first quarter (Q1) of 2025 falls below the quota approved by OPEC.
The minister said with the nation’s oil reserve and a commitment by industry players, there is an opportunity to meet the quota.
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He commended the Nigeria Content Development and Monitoring Board (NCDMB) for organising the fair, “which creates valuable opportunities for local companies”.
The minister described the growth of Nigerian content from 5 percent in 2010 to 56 percent in 2024 as a significant and commendable milestone.
On May 12, the Nigerian Upstream Petroleum Regulatory Authority (NUPRC) said the country’s oil production increased to 1,485,700 bpd in April.
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According to the commission, the average crude oil production for April represents 99 percent of the 1.5 million bpd quota set for Nigeria by the OPEC.
