Nigeria’s oil production surpassed 1.8 million barrels per day (bpd) last month, with an average of 1.78 million bpd, according to NUPRC chief Gbenga Komolafe. The increase, driven by improved security, supports efforts to reach 3 million bpd. Crude oil accounts for nearly two-thirds of government revenue and over 80% of foreign earnings.
Despite challenges like oil theft and underinvestment, Nigeria has increased output through crackdowns in the Niger Delta. Komolafe said the commission will keep working with stakeholders to maintain production and improve transparency. The NNPCL reported gas production rose to 7.581 billion standard cubic feet per day in June. Crude and condensate sales dropped slightly, but fuel availability improved to 71%. Revenue hit N4.571 trillion, with N905 billion profit after tax.
What you should know:
· Nigeria’s crude oil production averaged 1.505 million bpd in June 2025, according to OPEC.
· This was a 3.58% increase from May’s 1.453 million bpd, and the highest level since January.
· Nigeria met OPEC’s 2025 quota for the second time.
· Secondary sources estimated even higher output at 1.547 million bpd.