According to the August 2025 Monthly Oil Market Report (MOMR) of the Organization of the Petroleum Exporting Countries (OPEC), Nigeria managed to maintain its crude oil production for two consecutive months, slightly exceeding the 1.5 million barrels per day cut quota that the group had set for it.
The average daily production of oil in the nation increased from 1.453 million barrels per day in May to 1.505 million barrels per day in June and 1.507 million barrels per day in July.
At 1.54 mbpd, January had the highest output. In February, March, and April, crude production fell to 1.46 mbpd, 1.40 mbpd, 1.48 mbpd, and 1.45 mbpd each. In July, though, the June spike above the OPEC quota was maintained.
Speaking recently, Gbenga Komolafe, the CEO of the Nigerian Upstream Petroleum Regulatory Commission, discussed the 2024 launch of the Project One Million Barrels Initiative.
Through the reactivation of dormant fields, expedited regulatory approvals, and improved operational efficiencies throughout the upstream value chain, Nigeria is actively increasing crude oil output, he said.
Komolafe insisted that the current government had increased crude and condensate oil production from 1.4 mbpd to 1.7 mbpd. He said that the government’s attempts to reach the ambitious 2 mbpd oil output were validated by the recent increase in oil production of roughly 300,000 bpd.
“With a clear target of increasing production from 1.46 million barrels per day to 2.5 million bpd by 2026, the initiative has already demonstrated strong momentum with current unreconciled daily production averaging 1.7-1.83 mbpd,” he said.
