For the second consecutive month, Nigeria sustained crude oil production at 1.5 million barrels per day in July 2025.
According to the Organization of Petroleum Exporting Countries (OPEC) August Monthly Oil Market, Nigeria successfully maintained the organization’s quota.
Following the development, the Group Chief Executive Officer of Nigeria National Petroleum Company Limited, Mr Bashir Bayo Ojulari, said Nigeria stood a chance to get a higher quota from OPEC, if it makes a request for an increase. A move that could yield more revenue to the federal government to enable it to implement the N54 trillion budget of 2025, which will ultimately ease pressure on foreign reserves and reduce borrowing to finance the budget.
The August Monthly Oil Market data from OPEC indicated that while Nigeria recorded 1.505 million barrels per day in June, in July, Nigeria’s average daily production jumped to 1.507 million barrels per day.
Production had dropped to 1.46 million barrels per day in February, 1.40 million barrels per day in March, 1.48 million barrels per day in April, and 1.45 million barrels per day in May. Before then, Nigeria had achieved its highest production level of the year in January, with 1.54 million barrels per day
OPEC sets production caps for member countries as part of efforts to balance global supply and stabilize prices. Nigeria, which relies on crude oil for over 60 percent of its foreign earnings, has in recent months stepped up measures to meet its assigned quota.
Industry reports indicate that the country has been reactivating dormant oil fields, accelerating regulatory approvals, and improving operational efficiencies in the upstream sector to sustain output levels.
