Minister: Why Nigeria can’t meet OPEC quota

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Minister of State for Petroleum Resources Chief Timipre Sylva has attributed the inability of Nigeria to meet the Organisation of the Petroleum Exporting Countries (OPEC) to lack of investments in the oil and gas sector.

Nigeria’s OPEC quota is pegged at 1.8 million bpd but in the last few years, the country has struggled between 1.3 and 1.4 million bpd.

Speaking at a ministerial plenary, in Texas United States, Sylva said the speed withdrawal of investments in hydrocarbon exploitation has contributed significantly to Nigeria’s inability to meet OPEC targets.

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