According to the Organisation of the Petroleum Exporting Countries (OPEC) in its September Monthly Oil Market Report, Nigeria’s crude oil production rose from 1.307 million barrels per day (mbpd) in July to 1.352 mbpd in August. This represents a modest increase of 45,000 barrels per day.
This OPEC report contrasts with the Nigerian Federal Government’s earlier claims that daily crude production was approaching 1.6 mbpd. In August, the president announced that production had reached 1.61 mbpd and emphasized improvements in the gas sector following reforms introduced in May 2024.
On July 26, Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, reported that daily production had hit 1.61 mbpd. This figure was presented during a House of Representatives Special Committee hearing on oil theft and losses. However, OPEC’s data indicated a July production level of 1.30 mbpd, based on official communication from the Nigerian government.
In May, Nigeria’s daily oil production fell to 1.25 mbpd, contrary to earlier statements by the Nigerian National Petroleum Company Limited, which had claimed production was nearing 1.7 mbpd. OPEC’s data revealed a decline from 1.28 mbpd in April to 1.25 mbpd in May.