Nigeria Meets 1.5mbpd OPEC Production Quota

By Adedapo Adesanya

Nigeria’s crude oil production rose above 1.5 million barrels per day in June, the required quota by the Organisation of the Petroleum Exporting Countries (OPEC).

Data sourced from OPEC’s latest Monthly Market Oil Report (MOMR) for June noted that the country’s oil production hit 1.505 million barrels per day in June 2025 from 1.453 million barrels per day recorded in May 2025.

However, the output was still below the targeted 2.06 million barrels per day projected in the 2025 budget.

According to OPEC’s data, this is the first time the country’s production output would meet the 1.5 million barrels per day cuts quota.

Nigeria’s output had hovered at 1.1 million barrels per day in 2023, 1.3 million barrels per day in 2024, and then 1.4 million barrels per day since January 2025.

This development comes as Nigeria is seeking to boost its quota by 25 per cent under agreements with the cartel.

The chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bashir Bayo Ojulari, said the country was ramping up production with a medium-term goal to hit 2.06 million barrels per day by 2027, expressing optimism that oil output will rise to 1.9 million barrels per day in December this year.

“We have started growing. In March, we were producing about 1.56 million barrels per day, and we’re now at 1.63 million, including condensates. By the end of the year, we are hoping to clock 1.9 million barrels daily,” he said.

Mr Ojulari also said Nigeria had recorded a 100 per cent availability on major crude oil pipelines in the country, noting that for the first time in a long while, the nation enjoyed 100 per cent crude oil pipeline availability throughout June.

According to him, the feat, which was possible through the industry-wide security interventions led by the NNPC, aided the increase in oil production.

However, he called for more investments to boost production, adding that the company had been able to turn the narrative around by consistently meeting its cash-call obligations to Joint Venture (JV) operations.