For the second consecutive month, Nigeria maintained its crude production quota of 1.5 million barrels per day in July 2025.
According to the August 2025 Monthly Oil Market Report (MOMR) released by the Organisation of the Petroleum Exporting Countries (OPEC), Nigeria was able to sustain its crude oil production for two months straight.
As part of efforts to avoid oil glut, which refers to having too much oil supply in the global market, and keep prices stable to help economies grow, OPEC provided every member country with a production cap.
For Nigeria, it has not been able to reach the level in recent times until January 2025, when it recorded the highest output of 1.54 million barrels per day.
However, it dropped below the 1.5 million barrels daily mark in February until May.
Momentum picked up again when the country’s average daily oil production rose to 1.505 million barrels per day in June.
It has now sustained this again with data showing Nigeria produced 1.507 million barrels per day in July.
Prior to this, production averaged 1.453 million barrels per day in May.
Crude production dropped to 1.46 million barrels per day in February, 1.40 million barrels per day in March, 1.48 million barrels per day in April and 1.45 million barrels per day in May.
Nigeria is actively boosting crude oil production by reactivating dormant fields, fast-tracking regulatory approvals, and enhancing operational efficiencies across the upstream value chain.
With the country’s production picking up, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bashir Bayo Ojulari, noted that this could lead to country to ask for a higher output benchmark from OPEC.
Oil accounts for over 60 per cent of Nigeria’s foreign earnings and a higher output quota will help boost the country’s foreign reserves and reduce the need to borrow to fund the N54 trillion budget for 2025.