The Minister of State for Petroleum Resources (Gas), Chief Ekperikpo Ekpo, has called on oil and gas stakeholders to work together to meet Nigeria’s crude oil production quota as set by the Organisation of Petroleum Exporting Countries (OPEC).
Ekpo, represented by the Permanent Secretary, Dr Emeka Obi, made the appeal on Wednesday during his address at the ongoing 2025 Nigeria Oil and Gas Opportunities Fair (NOGOF) in Yenagoa, Bayelsa State.
This year’s fair is themed “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development.”
The minister noted that Nigeria’s oil production, currently standing at 1.4 million barrels per day in the first quarter of 2025, remains below the 1.8 million barrels per day quota allocated by OPEC.
He pointed out that with the country’s vast oil reserves and the sustained dedication of industry stakeholders, there remains a real chance of meeting the production target.
Chief Ekpo praised the Nigerian Content Development and Monitoring Board (NCDMB) for convening the fair, which he described as an important platform for showcasing investment opportunities available to local companies.
He acknowledged the growth of Nigerian content in the oil and gas sector, stating that progress from just five percent in 2010 to 56 percent by 2024 is a remarkable accomplishment that reflects well on the Board’s efforts and the resilience of Nigerian firms.
Approximately 1,000 companies are participating in this year’s event, where leading oil producers are presenting key opportunities and forthcoming projects to local and international investors
