Nigeria Hits Oil Quota Ceiling, But Structural Gaps Remain

Nigeria's oil production has reached its OPEC quota ceiling for the first time in years, but it still sits roughly 31% below where it was in 2015.

Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo recently made a pitch for continued capital inflows at the AECAF conference, citing recent back-to-back gas Final Investment Decisions (FIDs) from Shell and TotalEnergies.

However, despite the production recovery, Nigeria's output is still limited by structural decline, infrastructure deficits, and security issues in the Niger Delta.