Olu Verheijen, the Special Adviser on Energy to Nigeria’s President Bola Tinubu, has revealed that Africa’s largest oil producer plans to increase daily oil production to 2.7 million barrels by 2027. Speaking at an energy conference in Tanzania, she noted that the enhanced security at production and transportation sites will enable Nigeria to achieve this ambitious goal. Verheijen also revealed that a substantial part of the increase will consist of condensates as Nigeria’s OPEC+ quota of 1.5 million barrels per day does not include the lighter, more volatile hydrocarbon. She noted the progress that has been made at boosting production, with the country’s daily output rising from a low of 1.1 million bpd in 2022 to 1.67 million bpd as of December 2024.
Source: Nairametrics
