Nigeria’s crude oil production climbed to its highest level in six months in July, underscoring a fragile but steady recovery in Africa’s top oil-producing economy.
According to new figures released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria pumped 1.507 million barrels per day (bpd) in July, edging past the 1.505 million bpd recorded in June. The output marks the second straight month the country exceeded its Organisation of the Petroleum Exporting Countries (OPEC) quota.
When condensates are included, Nigeria’s total liquid hydrocarbon production rose to 1.712 million bpd, with combined crude and condensate output peaking at 1.84 million bpd during the month. The lowest level recorded was 1.66 million bpd.
“The daily average production in July was 1,712,282 barrels per day, comprising crude oil (1,507,418 bpd) and condensate (204,864 bpd),” NUPRC said in its report.
NUPRC’s Optimism and Government Targets
Earlier this month, NUPRC Chief Executive Gbenga Komolafe highlighted that Nigeria’s production temporarily surpassed 1.8 million bpd in July, attributing the gains to the Commission’s Project 1 MMBOPD Incremental initiative. The program aims to revive oil output through a multi-stakeholder strategy that addresses operational inefficiencies and security risks.
“We are pleased to report that we achieved a peak production of 1.8 million bpd last month, with an average rate of 1.78 million bpd,” Komolafe said.
He added that NUPRC is refining the Maximum Efficient Rate (MER) framework, improving produced water management, and aligning shutdown and maintenance schedules to reduce disruptions.
“With these efforts, the presidential mandate on production increase is well within reach,” Komolafe noted.
Why It Matters
Nigeria’s oil sector, which provides the bulk of government revenue and foreign exchange earnings, has struggled in recent years with crude theft, pipeline vandalism, underinvestment, and regulatory uncertainty. The recent uptick in production offers some relief for an economy facing currency volatility, high inflation, and sluggish growth.
Still, analysts warn that sustaining production above quota levels could bring Nigeria into renewed talks with OPEC, which has urged members to maintain agreed output caps in order to stabilize global oil prices.