Nigeria’s crude oil production remained steady at 1.5 million barrels per day (bpd) in July 2025, meeting its Organisation of the Petroleum Exporting Countries (OPEC) quota for the second consecutive month, according to the cartel’s latest Monthly Oil Market Report (MOMR).
OPEC data revealed that Nigeria’s average daily output in July stood at 1.507 million bpd, marginally higher than June’s figure of 1.505 million bpd. This follows months of volatile production earlier in the year, with output dipping to 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 country’s peak production this year was recorded in January at 1.54 million bpd.
As part of its strategy to stabilise global oil markets, OPEC imposes production limits on member states. Nigeria, which depends on crude exports for more than 60% of its foreign exchange earnings, has intensified efforts in recent months to comply with its allocated quota.
Industry analysts report that the government has revitalised idle oil fields, streamlined regulatory processes, and enhanced operational efficiency in the upstream sector to sustain production levels.
Mr. Bashir Bayo Ojulari, Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, suggested that the recent stability in output could strengthen Nigeria’s case for negotiating a higher production benchmark with OPEC.
With oil revenues playing a pivotal role in Nigeria’s economy, sustained production levels are expected to bolster foreign reserves and reduce dependence on borrowing to fund the government’s N54 trillion 2025 budget.
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