Nigeria’s Total Oil Production Jumps 4.2% to 1.737mb/d in January 2025

This is according to latest data by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Nigeria, which is Africa’s largest oil producer, saw its output record a 5.7 percent increase, reaching 1.737 million bpd in January 2025, compared to 1.643 million barrels per day in the same period of 2024.

In its latest report on Crude Oil and Condensate Production, the NUPRC stated, “Lowest and peak production in January was 1.66 million bopd and 1.79 million bopd, respectively. The average crude oil production was 103 percent of OPEC quota (1.5 mbpd).

“The daily average production in January was 1,737,480 barrels per day, comprising both crude oil (1,538,697 bopd) and condensate (198,783 bopd),” it stated.

This development confirms that Nigeria has once again met the Organisation of Petroleum Exporting Countries, OPEC, production quota of 1.5 million barrels per day but fell short of the 2.06 million barrels per day target set in the 2025 budget based on a projected oil price of $75 per barrel.

However, according to OPEC’s recently released February 2025 Monthly Oil Market Report (MOMR) Nigeria’s crude oil production, excluding condensate, grew by 6.3 per cent MoM to 1.539 million barrels per day in January 2025, up from 1.485 million barrels per day in December 2024.

On a Year-on-Year basis, the country’s crude oil output, excluding condensate, rose by 7.8 per cent from 1.427 million bpd in January 2024 to 1.539 million bpd in January 2025, according to OPEC.

The cartel stated that these figures were based on data obtained through direct communication. It also reaffirmed that Nigeria remains Africa’s top crude oil producer, while Equatorial Guinea ranks lowest with an output of 62,000 barrels per day.

The report further confirmed that Nigeria met OPEC’s quota of 1.5 million barrels per day.

Meanwhile, the Nigerian government is making efforts across investments and security to achieve the 2.06 million barrels per day production target outlined in the N52 trillion 2025 budget.