Nigeria’s crude oil and condensate production surged to 1.737 million barrels per day (bpd) in January 2025, marking the highest output in three years and four months. The latest data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) signals a major boost for the country’s projected N54.9 trillion revenue in the 2025 budget.
Despite falling short of the 2.06 million bpd target for 2025, the January output surpasses the low of 1.1 million bpd recorded in Q4 2022. It is the closest Nigeria has come to its April 2021 peak of 1.74 million bpd, following years of struggles caused by oil theft, pipeline vandalism, and underinvestment in the sector.
NUPRC’s report showed that Nigeria’s crude production in January was 1.538 million bpd, while condensate output stood at 198,783 bpd. The highest recorded production in the month was 1.79 million bpd, while the lowest was 1.66 million bpd. Key production terminals included Forcados (8.86 million barrels), Bonny (7.57 million barrels), and Qua Iboe (4.63 million barrels).
Nigeria’s oil production exceeded its Organization of Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd by 103%. OPEC’s latest Monthly Oil Market Report confirmed that Nigeria raised its crude production by 54,000 bpd in January, maintaining its position as Africa’s largest oil producer ahead of Algeria (907,000 bpd) and Congo (251,000 bpd).
Despite these gains, Nigeria remains focused on surpassing 2 million bpd by the end of 2025. The government has attributed recent successes to intensified efforts against oil theft and aims to reach 2.3 million bpd by mid-2025.
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