Nigeria’s oil output hit 1.69 million barrels per day (mbpd) in November, the highest level in 44 months. This increase is attributed to enhanced production efforts, with the addition of condensates boosting output from 1.53 mbpd in October.
The latest data from the Nigerian Upstream Petroleum Regulatory Commission, a Federal Government agency, shows that liquid crude oil production increased by 11.42%, reaching 1.48 million barrels per day in November, compared to 1.33 million barrels per day in October.
Nigeria remains Africa’s largest oil producer, despite challenges like oil theft and infrastructure issues affecting production. The latest figures highlight ongoing efforts to stabilize and improve the country’s oil sector, even amid fluctuating global prices.
While oil production has improved, it still falls short of the 2024 budget target of 1.78 million barrels per day (mbpd), even though the Nigerian National Petroleum Company Limited reports a rise to 1.8 mbpd. The data highlights the continued challenges in meeting national production targets, while also emphasizing recent efforts to boost output in the upstream sector.
The Minister of State for Petroleum Resources, Heineken Lokpobiri, has commented on Nigeria’s oil production quota, stating that OPEC’s decision to extend the country’s quota to 1.5 million barrels per day (bpd) aligns with Nigeria’s output target. Lokpobiri noted that this quota is in line with the nation’s 2025 production goal of 2.06 million bpd, including condensates, as outlined in the draft 2025 Appropriation Bill.
The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that Nigeria remains Africa’s largest oil producer. In its latest report, OPEC revealed that Nigeria’s oil output rose to 1.48 million barrels per day (bpd) in November, up from 1.33 million bpd in October. The oil alliance highlighted that this production level made Nigeria the top producer in Africa, surpassing Algeria, which produced 908,000 bpd, and Congo, with an output of 268,000 bpd.
OPEC stated that its data, based on direct communication, showed Nigeria’s crude production increased to 1.417 million barrels per day (bpd) in November, up from 1.4 million bpd in October. The Nigerian Upstream Petroleum Regulatory Commission also reported that Nigeria’s crude oil production rose to 1.69 million bpd in November, up from 1.53 million bpd in October.
