Nigeria reaffirms commitment to OPEC


LAGOS, Dec 22 – Nigeria on Friday reaffirmed its commitment to OPEC, its junior petroleum minister said, a day after Angola said it would leave the Saudi-led oil producer group that has in recent months sought to rally support for more output cuts to prop up prices.

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Africa’s biggest oil producer, Nigeria and Angola, were among several countries given lower output targets for 2024 after years of failing to meet the previous ones.

Angola said on Thursday OPEC no longer served the country’s interests.

But Nigeria’s minister of state for petroleum Heineken Lokpobiri said in a statement that the country’s commitment to OPEC remained unwavering.

“Our collaboration within the organisation remains pivotal in fostering stability and sustainability in the oil market,” Lokpobiri said in a statement.

“We are resolute in our dedication to OPEC’s objectives while actively engaging with the organisation to address concerns that resonate not only within our nation’s borders but across the entire continent.”

Nigeria was given a 2024 target of 1.5 million barrels per day (bpd) but says it plans to produce at least 1.8 million bpd.

Gbenga Samson
Gbenga Samson
Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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