FG urges oil firms to ramp up production to meet OPEC quota
The Minister of State for Petroleum Resources, Gas Chief Ekperenkpo Ekpo on Wednesday urged oil and gas stakeholders to collaborate to meet the quota approved by Organisation of Petroleum Exporting Countries (OPEC)
Ekpo who was represented by the Permanent Secretary, Mr Emeka Obi spoke during the ongoing 2025 Nigeria Oil and Gas Opportunities Fair (NOGOF) in Yenagoa.
‘The theme is: Driving Investment and Production Growth: Shaping a sustainable Oil and Gas Industry through Indigenous Capacity Development’’
He noted that the oil output of 1.4 million barrels per day as of first quarter of 2025 falls short of the 1.8 million barrels quota approved by OPEC.
He noted that with the nation’s oil reserve and a commitment by industry players, there is an opportunity to meet the quota.
He commended the Nigeria Content Development and Monitoring Board (NCDMB) for the fair showcasing opportunities for Nigerian companies.
He said that the growth of Nigerian content from five percent in 2010 and 56 per cent in 2024 was a laudable achievement.
Some 1,000 companies are participating in the fair where major oil producers showcase opportunities and projects
