Nigeria is planning to seek a 25% increase in its oil production quota by 2027, driven by expanded refinery capacity and improved output levels. The Nigerian National Petroleum Company Limited (NNPC), under the leadership of Group CEO Bashir Ojulari, is targeting a quota increase from 1.5 million barrels per day (bpd) to 2 million bpd.
According to Argus Media, Ojulari noted that Nigeria currently produces around 1.4 million bpd of crude, with an additional 250,000 bpd from condensates, bringing total output to about 1.65 million bpd. The move reflects efforts to align production capacity with growing domestic refining capabilities.
The NNPC is aiming for a production capacity of 2.4 million barrels per day (bpd) by 2027, with a breakdown of 1.7 million bpd in crude oil and 300,000 bpd in condensates. Actual production is expected to reach two million bpd by that time.
This move aligns with OPEC+’s ongoing efforts to revise each member’s maximum sustainable production capacity. While Nigeria has previously faced challenges meeting its quotas due to infrastructure and operational setbacks, these issues are reportedly being resolved.
NNPC Group CEO Bashir Ojulari pointed to the 650,000 bpd Dangote Refinery and an additional 500,000 bpd from modular refineries as key drivers of rising domestic refining capacity.
“With increased in-country demand, we are now in a stronger position to request a higher production quota from OPEC,” Ojulari told Argus Media.
The NNPC is optimistic about securing a 25% increase in its oil production quota, with CEO Bashir Ojulari noting that the final decision hinges on the outcome of ongoing talks with OPEC.
