Nigeria has finally met the quota set for it by the Organisation of the Petroleum Exporting Countries, a report by the Nigerian Upstream Petroleum Regulatory Commission has shown.
In January, Nigeria made real its focus on ramping up oil production, raising average daily crude output to 1,538,697 barrels.
This is about 39,000 barrels above the 1.5mbpd set for the oil-producing country by OPEC. The PUNCH reports that Nigeria failed to meet the crude oil production quota approved by OPEC throughout 2022, 2023, and 2024.
Although the Federal Government said it raised production from 1mbpd, it could not meet the OPEC quota in 2024.
However, the government started the new year on a good note, with production surging from 1.4mbpd in December 2024 to 1.5mbpd in the first month of 2025.
According to the NUPRC, oil production, including crude and condensate, rose to 1.74mbpd in January, up from 1.6mbpd in December.
However, this is below the 2mbpd target of the commission for the year. The regulator’s data disclosed that the lowest and peak production in January were 1.66mbpd and 1.79mbpd, respectively.
