The Minister of State for Petroleum Resources, Gas, Chief Ekperenkpo Ekpo, has 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’’
Ekpo noted that the oil output of 1.4 million barrels per day as of the first quarter of 2025 fell short of the 1.8 million barrels quota approved by OPEC.
He emphasised that with the nation’s oil reserve and a commitment by industry players, there was an opportunity to meet the quota.
Ekpo commended the Nigeria Content Development and Monitoring Board (NCDMB) for the fair showcasing opportunities for Nigerian companies.
He noted that the growth of Nigerian content from 5% in 2010 to 56 per cent in 2024 was a laudable achievement.
About 1,000 companies are participating in the fair, where major oil producers showcase opportunities and projects.
The fair provides a platform for stakeholders to discuss and explore opportunities in the oil and gas industry.
