By DAYO ADESULU
Nigeria’s average daily crude production rose to 1.507 million barrels per day (mbpd) in July, surpassing the Organisation of Petroleum Exporting Countries (OPEC) quota of 1.5 mbpd for the second consecutive month.
According to OPEC’s Monthly Oil Market Report (MOMR) for July, Nigeria’s crude output increased marginally by 2,000 bpd, up from 1.505 mbpd in June.
Third Time Meeting OPEC Quota in 2025
This marks the third time in 2025 that Nigeria has met or exceeded its OPEC quota. The previous months were January (1.54 mbpd), June (1.505 mbpd), and now July (1.507 mbpd).
Crude production trends this year show fluctuations:
- January: 1.54 mbpd (highest in 2025 so far)
- February: 1.46 mbpd
- March: 1.40 mbpd (lowest)
- April: 1.48 mbpd
- May: 1.45 mbpd
- June: 1.505 mbpd
- July: 1.507 mbpd
The consistency in June and July indicates a gradual recovery in production capacity.
Government’s Drive to Boost Production
Industry analysts link the gains to the federal government’s efforts under the Project One Million Barrels Initiative, launched in 2024.
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, said the initiative focuses on:
- Reactivating dormant oil fields
- Fast-tracking regulatory approvals
- Enhancing operational efficiencies
Komolafe noted that total liquids production (crude and condensates) has risen from 1.4 mbpd in early 2024 to about 1.7 mbpd currently.
Nigeria’s Ambitious Oil Production Target
Nigeria is targeting a daily oil output of 2.5 mbpd by 2026. The government believes that the recent 300,000 bpd increase reflects strong momentum toward that goal.
“With current unreconciled daily production averaging 1.7–1.83 mbpd, the administration is on track to meet its medium-term target,” Komolafe stated.
What It Means for Nigeria
The rise in crude production comes as Nigeria battles:
- Revenue shortfalls from past production declines
- Pipeline vandalism and oil theft in the Niger Delta
- Global competition within OPEC+
For Africa’s largest economy, sustaining production above OPEC quota not only boosts foreign exchange earnings but also signals improved security and efficiency in the oil sector.
