Nigeria Seeks 2.7 Million Barrels Per Day Oil Production by 2027

Nigeria, Africa’s biggest oil producer, has set itself a target of boosting daily production by about 80% to 2.7 million barrels of crude oil and condensate by 2027, an adviser to the country’s president said.

The planned surge will partly come from oil condensate, a lighter more volatile hydrocarbon, rather than just crude, so that Nigeria can largely keep within its OPEC+ quota of 1.5 million barrels of crude, according to Olu Verheijen, special adviser on energy to President Bola Tinubu.

Improvements in security around oil production and transportation sites is the main driver behind the rising production, she added.

“The OPEC quota does not include condensate. The target we’ve set for ourselves is a combination of condensate and crude,” she said in an interview at an energy conference in Dar es Salaam, Tanzania last week.

Nigeria produced 1.67 million barrels, of which 1.48 million barrels were crude in December 2024.