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CRUDE OIL PRODUCTION
Nigeria’s non-oil economy, long regarded as the anchor of growth, saw its dominance slightly eroded in the second quarter of 2025 as oil output rebounded strongly.
Nigeria’s crude oil production grew by 5.5% year-on-year in August 2025, averaging 1.43 million barrels per day (bpd) compared to 1.36 million bpd in the same period last year, according to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The latest Monthly Oil Market Report of the Organisation of Petroleum Exporting Countries (OPEC) has shown that Nigeria’s crude oil production rose a little above 1.5 million barrels per day in January, meeting the quota set for it by the oil cartel.
Nigeria needs improved security, improved investment, and proper regulatory framework to achieve its target of producing 2.06 million barrels of crude oil per day in 2025.
President Bola Tinubu has pledged to raise Nigeria's crude oil production from less than 1.5 million barrels per day to above 2 million bpd in 2025.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has clarified that its crude oil production figures align with those of the Nigerian Upstream Petroleum Regulatory Company (NUPRC).
Nigeria’s crude oil production experienced a slight decline in October 2024, dropping from 1.54 million barrels per day (bpd) to 1.53 million bpd.
The Nigerian National Petroleum Corporation (NNPC) Limited has claimed to have achieved 1.8 million barrels per day (bpd) crude oil production and 7.4 standard cubic feet per day (scfd) gas production in November.
Nigeria’s daily crude oil production increased from 1.39 million barrels per day (bpd) to 1.43 million bpd in October 2024.
Nigeria’s average crude oil production in the month of September declined by as much as 33,000 barrels to 1.405 million barrels per day.
The Sterling Oil Exploration and Engineering Petroleum Company (SEEPCO), an Anambra-based oil exploration firm, expressed concerns over the adverse impact of insecurity on its operations, particularly crude oil exploration.
Oil Minister disputes OPEC data, insists Nigeria’s crude oil production is 1.7 million barrels daily
The State Minister of Oil, Heineken Lokpobiri, has insisted that the country is producing 1.7 million barrels of crude oil daily including condensates.