For the first time in years, Nigeria has met its OPEC-assigned oil production quota, producing 1.505 million barrels per day (mb/d) in June 2025, according to the latest Monthly Oil Market Report (MOMR) released by the Organization of the Petroleum Exporting Countries (OPEC).
The figure marks a significant increase from the 1.453mb/d output recorded in May and represents a notable rebound from previous years, when Nigeria’s daily output struggled to stay above 1.3mb/d.
In 2023, production hovered around 1.1mb/d, gradually rising to 1.4mb/d earlier in 2025.
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Despite this milestone, the output remains below the 2.06mb/d benchmark projected in Nigeria’s 2025 national budget.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, stated that Nigeria is actively ramping up production, with a target of reaching 2.06mb/d by 2027.
He expressed optimism that production would rise to 1.9mb/d by December 2025.
“We’ve seen steady growth—from 1.56mb/d in March to 1.63mb/d now, including condensates,” Ojulari said, adding that the country recorded 100% availability on key crude oil pipelines in June, a feat attributed to intensified security efforts led by NNPCL.
He emphasized the need for sustained investment in the sector and highlighted that Nigeria has consistently met its cash-call obligations to joint venture operations—an achievement that has helped restore confidence and boost output.
With increased pipeline security and strategic industry reforms, experts forecast further growth in Nigeria’s oil production in the months ahead.
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ZAWYA
