Nigeria has met OPEC’s 1.5 million barrels per day (bpd) production target for the first time since the quota was established during the November 2023 ministerial meeting.
According to the News Agency of Nigeria (NAN), OPEC’s monthly oil market report recorded a 54,000 bpd increase from December 2024, when Nigeria’s output stood at 1.485 million bpd.
Despite falling short of its target for over a year, OPEC extended Nigeria’s production quota until 2026 in December 2024, signaling confidence in the country’s ability to stabilize its output.
OPEC’s production data comes from two primary sources—direct reports from Nigerian officials and independent energy intelligence platforms.
The report confirmed that Nigeria remained Africa’s leading oil producer, outperforming Algeria’s January output of 907,000 bpd. The Republic of Congo ranked third, producing 251,000 bpd in January.
Overall, OPEC-12 and the Declaration of Cooperation (DoC) members produced an average of 40.62 million bpd in January 2025, reflecting a 118,000 bpd decline from the previous month.
With Nigeria finally reaching its OPEC-set target, the country’s oil sector may be on track for greater stability and sustained production growth.
