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Nigeria’s Crude Oil Production Declines In February 2025, Fails To Meet OPEC Quota

A review of Nigeria’s latest crude oil production data by SaharaReporters has revealed that the country recorded lower crude oil production in February 2025 than in January 2025.

According to the data, total crude oil production, including blended and unblended condensates, stood at 1.671 million barrels per day in February, marking a decline from the 1.737 million barrels per day recorded in January 2025.

However, when considering only crude oil production without condensates, which is the metric used for OPEC quota calculations, Nigeria produced 1.465 million barrels per day in February 2025, falling below the 1.538 million barrels per day recorded in January 2025.

This means the country failed to meet the 1.5 million barrels per day OPEC production target set for its members.

This shortfall is not an isolated incident, as Nigeria has consistently struggled to meet its OPEC production quota in recent years.

A review of past production figures shows that the country also failed to reach the 1.5 million barrels per day quota in December 2024, when it produced 1.484 million barrels per day, and in November 2024, when it recorded 1.485 million barrels per day.

The production figures for the previous months were even lower. In October 2024, Nigeria recorded 1.333 million barrels per day, while in September 2024, it produced 1.324 million barrels per day.

Nigeria’s Crude Oil Production Declines In February 2025, Fails To Meet OPEC Quota

The figures for August, July, and June were 1.351 million, 1.306 million, and 1.276 million barrels per day, respectively.

In May, production stood at 1.251 million barrels per day, while April saw an output of 1.281 million barrels per day.

In March, production was 1.230 million barrels per day, in February it was 1.322 million barrels per day, and in January 2024, it reached 1.426 million barrels per day.

This trend extends beyond 2024. Throughout 2023 and 2022, Nigeria also failed to meet the 1.5 million barrels per day OPEC quota, highlighting a long-standing challenge in the country’s oil sector.

Nigeria’s Crude Oil Production Declines In February 2025, Fails To Meet OPEC Quota

Gbenga Komolafe, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, previously detailed the crude oil production quotas, excluding condensates, approved by OPEC for Nigeria from 2022 to May 2024.

For reference, in 2022, Nigeria’s approved production quotas by OPEC were as follows: January 1.682 million barrels per day, February 1.701 million barrels per day, March 1.718 million barrels per day, April 1.735 million barrels per day, May 1.753 million barrels per day, and June 1.722 million barrels per day.

In July, August, and September, the quotas were set at 1.799 million, 1.826 million, and 1.830 million barrels per day, respectively. For October, November, and December, the quotas stood at 1.826 million, 1.742 million, and 1.742 million barrels per day.

Despite these allocations, Nigeria consistently underperformed, a struggle that has persisted into 2025.

Industry analysts have attributed Nigeria’s ongoing failure to meet OPEC production targets to several persistent challenges, including crude oil theft, large-scale illegal bunkering, frequent pipeline vandalism, and operational inefficiencies.

Additionally, poor infrastructure, aging oil fields, and mismanagement in the sector have contributed to production losses. Regulatory and policy issues, as well as delays in implementing key oil sector reforms, have further hampered growth.

As Nigeria continues to grapple with these issues, its inability to meet the OPEC quota raises concerns about lost revenue, declining foreign exchange earnings, and broader economic implications.

With the global oil market dynamics constantly shifting, Nigeria faces increasing pressure to address its production challenges and regain investor confidence.

The government has pledged to combat crude oil theft and improve security around oil infrastructure, but the effectiveness of these measures remains uncertain.

For now, Nigeria remains below its OPEC-mandated production level, raising concerns about its ability to fully realize the potential of its oil sector in the near future.

Source:- Saharareporters