Nigeria will formally request the Organisation of Petroleum Exporting Countries (OPEC) to raise its oil production quota from 1.5 million barrels per day (bpd) to 2 million bpd, according to the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri.
Lokpobiri, who disclosed this in an interview published in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)'s quarterly magazine to mark its 4th anniversary, said the country's current output has surpassed 1.7 million bpd, up from 1 million bpd when he assumed office.
He attributed the growth to improved security and renewed investments in the oil sector, noting that ongoing deepwater exploration and the deployment of additional rigs are expected to further boost production.
Lokpobiri emphasized that Nigeria's actual output includes condensate, which is not counted under OPEC quotas but sells at a premium to conventional crude. He explained that raising production was crucial to meet domestic crude obligations and offset forward sales inherited from previous administrations.
He noted that the Petroleum Industry Act (PIA) restored investor confidence after a decade of regulatory uncertainty, leading to new capital inflows. He also credited recent measures to combat pipeline vandalism and crude theft for stabilizing production.
According to the minister, Nigeria could comfortably produce 2.5 million bpd without major new investments, citing nearly 500 idle wells awaiting re-entry by local operators. He added that efforts are underway to replace ageing pipelines — many over 60 years old — and attract investors to modernize critical infrastructure.
Lokpobiri also highlighted the government's commitment to reducing production costs, which remain above the global average, through executive orders and targeted reforms to make Nigerian crude more competitive.
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On the gas front, Minister of State for Petroleum (Gas), Ekperikpe Ekpo, said the 2024 Licensing Round had attracted around $16 billion in investments, with major commitments from firms like ExxonMobil, which is investing $1.5 billion in deepwater exploration.
Ekpo noted that the government is prioritizing gas infrastructure development, with initiatives such as the Nigeria Gas Infrastructure Blueprint, aimed at expanding pipelines, LNG terminals, and compression facilities to meet domestic demand projected to grow 16.6 per cent annually by 2030.
He added that gas flaring has dropped to 7.16 per cent as of July 2025, down from 7.55 per cent in 2024, reflecting the success of the Nigerian Gas Flare Commercialisation Programme (NGFCP) and the Zero Routine Flaring Policy.
In his remarks, NUPRC Chief Executive, Engr. Gbenga Komolafe, reaffirmed Nigeria's ambition to achieve 3 million bpd crude oil output, describing it as "ambitious but achievable."
He noted that improved oil recovery (IOR) technologies and field-life extension initiatives would be key to sustaining output growth and unlocking stranded reserves.
