Nigeria has maintained crude oil production above its 1.5 million barrels per day (bpd) quota set by the Organization of the Petroleum Exporting Countries (OPEC) for the second month in a row, according to the group’s August 2025 Monthly Oil Market Report (MOMR).
Data showed that output rose from 1.453 million bpd in May to 1.505 million bpd in June and further to 1.507 million bpd in July.
This marks the third time in 2025 that the country’s average production has met or exceeded OPEC’s target, with January recording the highest at 1.54 million bpd.
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Production had dipped below target earlier in the year, with levels of 1.46 million bpd in February, 1.40 million bpd in March, 1.48 million bpd in April, and 1.45 million bpd in May.
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, linked the improvement to the government’s Project One Million Barrels Initiative, launched in 2024.
The strategy focuses on reviving dormant oil fields, streamlining regulatory approvals, and improving operational efficiency in the upstream sector.
Komolafe noted that Nigeria’s crude and condensate output has already climbed from 1.4 million bpd to about 1.7 million bpd, with unreconciled figures ranging between 1.7 and 1.83 million bpd.
He stressed that the administration is working towards achieving a production target of 2.5 million bpd by 2026, with recent gains of around 300,000 bpd seen as evidence of progress.
Image Credit: The Guardian Nigeria News
