Nigeria’s crude oil production has surpassed 1.5 million barrels per day (mbpd) for the first time in four years, surpassing its December 2024 quota set by the Organisation of Petroleum Exporting Countries (OPEC).
The output, which excludes condensates, signifies a resurgence that is crucial for Nigeria’s economy, which is heavily reliant on oil revenues amid ongoing reforms aimed at boosting production capacity.
OPEC had previously set Nigeria’s production quota at 1.5 mbpd, which the country has now successfully met. According to tanker tracking data compiled by Bloomberg, Nigeria’s output rose by 40,000 bpd to reach 1.51 million bpd, marking its highest production level in four years.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, highlighted key achievements in the oil sector under President Bola Tinubu’s administration on Monday.
He emphasised that crude oil production has risen significantly from one million barrels per day (bpd) to 1.8 million bpd, including condensates.
