Business
Nigerian govt charges oil firms to shore up production
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).
The minister made the call at the ongoing 2025 Nigeria Oil and Gas Opportunities Fair (NOGOF) in Yenagoa, Bayelsa.
Ekpo, who was represented at the forum by the Permanent Secretary in the ministry, Emeka Obi, noted that the current output of 1.4 million barrels per day falls short of the 1.8 million barrels quota approved by OPEC.
READ ALSO: Nigerian govt targets 2m barrels of oil per day with exploration of Kolmani Oil Basin
He commended the Nigeria Content Development and Monitoring Board (NCDMB) for the fair showcasing opportunities for Nigerian companies.
He said the growth of Nigerian content from five percent in 2010 to 56 percent in 2024 was a laudable achievement.
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