Nigeria’s crude oil production rose to 1.56 million barrels per day in June 2026, its highest monthly output since April 2020. The new figure also pushed the country above its OPEC quota, offering a welcome boost to government revenue and foreign exchange supply.
According to industry data from the Nigerian Upstream Petroleum Regulatory Commission, June marked the fourth straight month of production growth. Crude output reached 104 percent of Nigeria’s OPEC allocation of 1.5 million barrels per day.
Output Strengthens Across Key Terminals.
When condensates are included, Nigeria’s total liquid hydrocarbon output averaged 1,735,398 barrels per day in June, up 2.2 percent from 1.70 million barrels per day in May.
Several key terminals supported the recovery. Bonny Terminal led production with 318,280 barrels per day, up from 293,880 barrels per day in May. Forcados followed with 306,360 barrels per day, compared with 289,900 barrels per day the previous month.
Qua Iboe Terminal averaged 164,730 barrels per day, down slightly from 173,360 barrels per day in May. Escravos recorded 138,030 barrels per day, while Bonga Field contributed 103,660 barrels per day to the national average.
What Drove The Recovery
NUPRC said the steady increase was supported by improved operational stability, the completion of scheduled maintenance without major disruptions, and fewer pipeline interruptions along key evacuation routes.
That matters because Nigeria has long struggled with lower upstream output caused by crude theft, vandalism, and underinvestment. A more stable production environment now gives the country a better chance of sustaining gains over time.
Why This Matters
Higher oil production carries major implications for the economy. More output means stronger dollar earnings, improved fiscal space, and potential relief for foreign exchange pressure.
With peak single-day production touching 1.89 million barrels per day in June, Nigeria is edging closer to its medium-term target of 2 million barrels per day. If the current trend holds, the Central Bank may have more dollar liquidity to support the naira, while the federal government gets more room to fund its budget.
The latest figures suggest that Nigeria’s oil sector is slowly regaining momentum at a time when the economy needs it most. Source Bloomberg
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