Nigeria Sustains Crude Oil Production Above OPEC Quota for Second Consecutive Month
Nigeria has successfully maintained its crude oil production above the 1.5 million barrels per day (mbpd) quota set by the Organization of the Petroleum Exporting Countries (OPEC) for two consecutive months. According to the August 2025 Monthly Oil Market Report (MOMR) released by OPEC, the country’s average daily oil production rose to 1.505 million barrels per day in June and 1.507 million barrels per day in July, respectively, from 1.453 million barrels per day in May.
This marks the third time Nigeria’s average crude production has met the OPEC quota this year, with January recording the highest output of 1.54 mbpd. Crude production dropped to 1.46 mbpd in February, 1.40 mbpd in March, 1.48 mbpd in April, and 1.45 mbpd in May. However, the surge above the OPEC quota in June was sustained in July, indicating a positive trend in the country’s oil production.
Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, attributed the increase in oil production to the Project One Million Barrels Initiative launched in 2024. He stated that Nigeria is actively boosting crude oil production by reactivating dormant fields, fast-tracking regulatory approvals, and enhancing operational efficiencies across the upstream value chain.
The current administration has succeeded in raising oil production from 1.4 mbpd to 1.7 mbpd, with a recent increase of about 300,000 barrels per day, confirming the government’s efforts to achieve the ambitious 2 mbpd oil output target. Komolafe emphasized that the initiative aims to increase production from 1.46 million barrels per day to 2.5 million barrels per day by 2026, with current unreconciled daily production averaging 1.7-1.83 mbpd.
Nigeria’s ability to sustain crude oil production above the OPEC quota is a positive development, indicating the country’s efforts to increase its oil production capacity. The Project One Million Barrels Initiative has demonstrated strong momentum, and the government’s target of achieving 2 mbpd oil output by 2026 seems feasible.
