Nigeria’s oil output, including condensate, increased by 4% month-on-month (MoM) in January 2025, reaching 1.737 million barrels per day (bpd), up from 1.667 million bpd in December 2024, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Year-on-year (YoY), the nation’s output also saw a 5.7% increase compared to January 2024, when the country produced 1.643 million bpd.
The NUPRC’s latest report stated that Nigeria’s daily average production for January 2025 was 1,737,480 bpd, which included 1,538,697 bpd of crude oil and 198,783 bpd of condensate. The report noted that Nigeria was able to meet the Organization of Petroleum Exporting Countries’ (OPEC) target of 1.5 million bpd, although it fell short of the higher target of 2.06 million bpd based on the $75 per barrel price assumption.
In its February 2025 Monthly Oil Market Report, OPEC revealed that Nigeria’s oil output excluding condensate rose by 6.3% MoM, reaching 1.539 million bpd in January 2025, compared to 1.485 million bpd in December 2024. On a YoY basis, the nation’s crude output excluding condensate increased by 7.8%, from 1.427 million bpd in January 2024.
Despite the rise in production, Nigeria’s output remains the highest in Africa, with Equatorial Guinea at the bottom with 62,000 bpd. The report also mentioned that Nigeria has met its OPEC quota of 1.5 million bpd.
The NUPRC has highlighted the significant increase in the country’s rig count, which has doubled from 16 in 2021 to 32, showing progress in boosting upstream oil activities. Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, acknowledged the Presidential directive to ramp up oil production, which has led to enhanced institutional frameworks, investments, and partnerships, marking a transformation in the sector.
Efforts to achieve the 2.06 million bpd target set in Nigeria’s 2025 budget are ongoing, with the country aiming to strengthen its position in the global oil and gas industry.
