Nigeria plans to request a 25% increase in its OPEC crude oil production quota, targeting 2 million barrels per day by 2027 to boost economic revenues and support growing domestic refining capacity.
The Nigerian National Petroleum Company Limited announced the ambitious plan as part of broader strategy to maximize petroleum sector contributions to national economic growth. Current production stands at approximately 1.4 million barrels per day, slightly below the existing 1.5 million barrel quota.
NNPC Group Chief Executive Officer Bashir Ojulari outlined the company’s expansion roadmap, projecting total production capacity of 2.4 million barrels per day by 2027. The target includes 1.7 million barrels of crude oil and 300,000 barrels of condensate production.
The timing aligns with OPEC+’s upcoming review of member countries’ maximum sustainable production capacity, scheduled for completion by November 30. This assessment will determine new production baselines and quotas for 2027 onwards.
“We believe that with the increased demand being created in-country, we are now in a better position to also seek from OPEC to increase our production quota,” Ojulari stated during recent industry discussions.
Nigeria’s enhanced domestic refining capacity strengthens the case for higher production quotas. The recently commissioned 650,000 barrel-per-day Dangote refinery, combined with 500,000 barrels of modular refining capacity at various development stages, creates substantial domestic demand.
Previous attempts to secure quota increases faced rejection due to Nigeria’s inability to meet existing production targets. Infrastructure challenges and operational difficulties historically limited output, undermining quota revision requests.
However, recent operational improvements and infrastructure investments have positioned Nigeria to achieve current production targets consistently. The enhanced capacity to meet domestic demand through local refining demonstrates the country’s readiness for increased production quotas.
Economic analysts project the quota increase could generate significant additional revenue streams, supporting government fiscal targets and foreign exchange earnings. The petroleum sector remains crucial for Nigeria’s economic stability and growth prospects.
The three-year projection envisions production reaching 3 million barrels per day, comprising 2.5 million barrels of crude oil and 500,000 barrels of condensate. This ambitious target reflects confidence in ongoing infrastructure development and operational capacity expansion.
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