The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, announced that Nigeria will seek an increased oil production quota at the upcoming Organisation of Petroleum Exporting Countries meeting in November.

Speaking on Tuesday in Abuja during an interview with the media team of the Nigerian Upstream Petroleum Regulatory Commission, Lokpobiri reviewed the nation’s upstream oil performance, four years after the enactment of the Petroleum Industry Act and the establishment of the Commission.

He noted that Nigeria’s current quota of around 1.5 million barrels per day no longer reflects the country’s actual production capacity.

He said the upcoming OPEC meeting offers Nigeria a chance to advocate for increasing its quota to at least two million barrels per day.

“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. And I believe that there’s no better time than now for us to make a strong case for Nigeria’s quota to be reviewed to two million and above,” the minister said.

He expressed confidence that Nigeria’s higher output, strengthened infrastructure, and renewed upstream investments would bolster the country’s case for an increased OPEC quota.

Lokpobiri added that the sustained production recovery, improved regulatory framework, and fresh inflows of investment have positioned Nigeria to make a compelling argument for a higher allocation.

“When I became minister, the OPEC quota for Nigeria was 1.5 million barrels per day because our production then was below that.

“Today, we are producing around 1.7 million barrels daily, including condensates, and we have the capacity to produce above two million barrels per day. It is time to review the quota upward,” he stated.

According to him, Nigeria produces condensates, a lighter and more valuable crude not restricted by OPEC quotas, which allows the country some operational flexibility.

“Condensate is not counted in OPEC production, yet it sells at a higher price.

“If we do 1.5 million barrels of crude and one million barrels of condensate, we are still within the rules. And because we have capacity, we are also going to show that we have capacity. Right now, there is something going on to assess our capacity, and that assessment is currently going on. And we believe that we will show the world that we have the capacity to produce more than two million barrels,” he said.

The minister added that verifiable production data, domestic crude supply commitments under the Petroleum Industry Act, and evidence of renewed capacity would form key elements of Nigeria’s case at the OPEC meeting.

He attributed the production rebound to improved security and enhanced pipeline integrity across the Niger Delta.

“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.”