The Nigerian Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, has reiterated Nigeria’s position at the OPEC 61st Meeting of the Joint Ministerial Monitoring Committee (JMMC). Senator Lokpobiri participated in the JMMC of OPEC held via a virtual conference, reiterated that Nigeria is resolute in its conformity to the OPEC Declaration of Cooperation (DoC).
“Interestingly, Nigeria remains in adherence to the decisions made at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM), and that of the 52nd JMMC. This highlights our conformity to the Declaration of Cooperation (DoC) and commitment to maintaining market stability,” Lokpobiri stated.
The 61st Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 28 July 2025, has reviewed the crude oil production data for the months of May and June 2025 and noted the overall conformity for OPEC and non-OPEC countries participating in the Declaration of Cooperation (DoC).
The Committee reiterated the critical importance of achieving full conformity and compensation, and requested that countries that did not achieve full conformity submit updated compensation plans to the OPEC Secretariat by August 18, 2025.
The Committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.
The JMMC retains the authority to convene additional meetings or to request an OPEC and non-OPEC Ministerial Meeting, as established during the 38th ONOMM held on 5 December 2024.
The next meeting of the JMMC (62nd) is scheduled for 1 October 20.
