Nigeria Reaffirms Commitment to OPEC+ Production Targets – Lokpobiri

Nigeria has reaffirmed its commitment to the production decisions of the Organisation of the Petroleum Exporting Countries and its allies (OPEC+), as the Federal Government pledged to continue supporting efforts aimed at ensuring stability in the global energy market.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made this known in a post on his official X page after participating in the 67th Meeting of the Joint Ministerial Monitoring Committee (JMMC).

According to the minister, the meeting reviewed prevailing conditions in the global oil market and reaffirmed the importance of the Declaration of Cooperation (DoC) in maintaining stability across international energy markets.

Lokpobiri said discussions also focused on the need to safeguard international maritime routes and protect critical energy infrastructure to guarantee uninterrupted energy supply and minimise market volatility.

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He added that Nigeria remains fully compliant with the production decisions agreed under the Declaration of Cooperation and is closely monitoring developments in the global market.

“As we continue to support the collective objectives of the Declaration of Cooperation (DoC), Nigeria remains compliant with the agreed production decisions and stays alert to ensuring we remain well positioned to harness market advantages in the best interest of the nation,” Lokpobiri said.

The minister noted that the Federal Government would continue to position Nigeria to take advantage of opportunities in the global energy market while supporting collective efforts to ensure market stability.