Nigeria’s oil production slightly exceeds OPEC quota

Nigeria’s crude oil production rose in June, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown.

The oil cartel’s direct communication data, Nigeria recorded 1.5 million barrels per day in June from 1.4 million recorded in May 2025, an increase of 53,000 barrels.

Nigeria’s crude oil production recorded 1.547 million barrels per day in June from 1.528 million recorded in May 2025, an increase of 19,000 barrels, an OPEC survey, which cites secondary data sources, said.

“Total DoC crude oil production averaged 41.56 mb/d in June 2025, which is 349tb/d higher, month -on-month,” the oil cartel said.

OPEC indicated it gets its crude oil production figures mainly from two sources, either as direct communication by member countries or by information released by secondary energy intelligence platforms.

Nigeria has recorded a leap by meeting its 1.5 million barrels per day (bpd) OPEC quota for the second time this year. After reaching 1.54 million bpd in January, the country’s crude oil production fluctuated in the following months.

Despite OPEC’s approval of the 1.5 million bpd quota in November 2023, Nigeria has struggled to consistently meet this target.

OPEC report showed that Nigeria retained its position as the largest oil producer in Africa, surpassing Algeria, which produced 927,000 bpd in the month under review.

On the fiscal side, the oil cartel said Nigeria saw an improved deficit of 3.4 per cent of Gross Domestic Product (GDP) in 2024, helped by strong oil and tax revenues.

READ ALSO: UPDATED: Again, Nigeria’s inflation rate eases in June – NBS

“However, continued government spending and optimistic assumptions underpinning the 2025 budget are likely to widen the deficit. Public debt climbed in Q1 2025 but is expected to remain at around 50 per cent of GDP this year,” it said.

Over the years, crude theft and pipeline vandalism and its negative impact on the country’s economy have been a source of concern to the Nigerian government.

In July 2024, the Nigerian National Petroleum Company Limited (NNPC Ltd) declared a state of emergency on Nigeria’s crude oil production. The move, according to the company, aimed to increase Nigeria’s crude oil production and grow its reserves.

Additionally, the Nigerian government approved $21 million for the metering of 187 oil flow stations across the Niger Delta region to promote effective monitoring of the country’s crude oil production and distribution.