Nigeria’s crude oil production remained above 1.5 million barrels per day (bpd) for the third consecutive month in July 2026 despite a decline from the previous month.
This is according to the latest Monthly Oil Market Report released by the Organization of the Petroleum Exporting Countries (OPEC).
OPEC data showed that Nigeria’s crude oil output fell to 1.505 million bpd in July from 1.555 million bpd in June.
Despite the monthly decline, production remained above the 1.5 million bpd mark, extending a run that began in May and keeping Nigeria among Africa’s leading crude oil producers.
What the cartel is saying
According to OPEC data, Nigeria’s Q2 2026 average production stood at 1.525 million bpd, up from 1.388 million bpd in Q1 2026.
- Production averaged 1.415 million bpd in Q4 2025 and 1.432 million bpd for the whole of 2025.
- Nigeria’s average production was 1.345 million bpd in 2024.
- OPEC data showed Nigeria producing more crude than Libya, which recorded 1.391 million bpd, and Algeria at 995,000 bpd in July. OPEC did not provide data for Congo and Gabon.
The July figure represents a decline of 50,000 bpd from June, but production remained significantly above the levels recorded in the first quarter of 2026.
Flashback
Nairametrics earlier reported that Nigeria’s average daily crude oil production increased to 1.530 million bpd in May 2026, marking the first time in 2026 that the country returned above its OPEC production quota since mid-2025.
- The May increase marked a significant improvement from the 1.388 million bpd average recorded in the first quarter of the year.
- Nigeria’s stronger output also came despite broader production declines among members of the Declaration of Cooperation (DoC), according to OPEC.
The sustained improvement has reinforced Nigeria’s position as Africa’s largest crude oil producer.
More Insights
The increase in crude oil production has coincided with higher domestic crude supplies to local refineries as Nigeria continues efforts to strengthen its refining and energy supply chain.
The NUPRC figures point to increased crude availability for domestic refining, while the higher production levels provide additional volumes to support the local energy market.
- President Bola Tinubu’s administration has introduced fiscal incentives, including tax waivers and other investment-friendly measures, to attract fresh capital into the sector.
The Federal Government has also prioritised faster regulatory approvals to reduce project delays and encourage new upstream developments.
What you should know
Earlier this year, NUPRC declared the nation’s total petroleum reserves at 37.01 billion barrels of crude oil and condensate, alongside 215.19 trillion cubic feet (TCF) of natural gas as of January 1, 2026.
Also, the Nigerian National Petroleum Company Limited said it plans to grow Nigeria’s gas reserves from the current 210 trillion cubic feet to about 600 trillion cubic feet.
The agency recently stated that Nigeria remains on course to achieve its target of producing 3 million barrels of crude oil per day by 2030.
