The Chairman of the Board of Governors of the Organisation of the Petroleum Exporting Countries, Ademola Adeyemi-Bero, has said Nigeria should be producing up to four million barrels of oil per day considering its hydrocarbon reserves.
Adeyemi-Bero stated this on Thursday at the Heirs Energies’ Nigeria Petroleum Industry Leadership Discourse in Abuja. The energy stakeholder disclosed that those in OPEC believe Nigeria can do more than its current 1.5mbpd quota.
According to him, the country only needs to demonstrate capacity to raise its OPEC quota. He said raising oil production to 1.7mbpd in January was a good demonstration.
“I think the important thing we should understand is that with Nigeria’s reserves and resources, it doesn’t have any business being below two million barrels a day. Nigeria should be doing two and a half, three, or four million barrels a day with its resource base.
“And I believe we can do it. And I do believe that even those in OPEC and around the world believe that, but we have to demonstrate that we can actually produce that.
“What happened in January is a major demonstration. The country demonstrated that it can deliver above 1.5mbpd.”
