Nigeria’s Oil Production Soars to 1.737 Million bpd in January, Fueling 2025 Revenue Hopes
Nigeria’s oil sector has recorded a significant turnaround, with the country’s crude oil and condensate output surging to 1.737 million barrels per day (bpd) in January 2025. This marks the highest production level in three years and four months, and it is set to bolster the nation’s projected revenue of N54.9 trillion for the 2025 budget.
According to the latest report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the January figures include 1.538 million bpd of crude production and an additional 198,783 bpd from condensate. Despite falling short of the 2.06 million bpd target for the year, this performance is a marked improvement over the 1.1 million bpd recorded in the final quarter of 2022 and nearly matches the April 2021 peak of 1.74 million bpd.
Key production terminals such as Forcados (8.86 million barrels), Bonny (7.57 million barrels), and Qua Iboe (4.63 million barrels) played pivotal roles in this achievement. The report also noted that Nigeria exceeded its Organization of Petroleum Exporting Countries (OPEC) quota of 1.5 million bpd, with the nation’s output reportedly surpassing this benchmark by 103%. OPEC’s Monthly Oil Market Report confirmed that Nigeria ramped up its crude production by 54,000 bpd in January, solidifying its position as Africa’s largest oil producer ahead of Algeria and Congo.
Related Posts
Government officials remain optimistic, outlining plans to push production beyond 2 million bpd by the end of 2025 and ambitiously targeting 2.3 million bpd by mid-year. The recent uptick has been largely attributed to intensified efforts to combat oil theft, pipeline vandalism, and chronic underinvestment in the sector.
