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 the Organisation of Petroleum Exporting Countries (OPEC).
Ekpo, who was represented by the Permanent Secretary, Mr Emeka Obi made the call while speaking at 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.
The minister said 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 to 56 per cent in 2024 was a laudable achievement.
The News Agency of Nigeria (NAN) reports that about 1,000 companies are participating in the fair where major oil producers showcase opportunities and projects (NAN)
