Nigeria’s average daily crude oil production up by 1.453 million bpd

The July 2025 Monthly Oil Market report from the Organisation of Petroleum Exporting Countries (OPEC) indicated a 3.58% rise in Nigeria’s average daily crude oil production, increasing from 1.453 million barrels per day (bpd) in May to 1.505 million bpd in June, according to direct communication data.

Despite this progress, Nigeria’s output is still considerably below its ambitious target of 2.06 million bpd for 2025, falling short by nearly 27%. This discrepancy highlights persistent systemic issues that are undermining the country’s oil sector, such as underinvestment and oil theft, which continue to hinder production capacity.

While the Nigerian government does not have control over oil price fluctuations, which are dictated by the global market, it does maintain some authority over domestic production levels. Therefore, to enhance oil production, the government must bolster enforcement against oil theft by implementing stricter penalties, enhancing security measures, and promoting better collaboration with local communities affected by these issues.

Moreover, attracting new investments necessitates a more stable macroeconomic environment, which can be fostered through various strategies, including effective management of the exchange rate. These initiatives can stimulate investments, facilitate the modernization of Nigeria’s oil infrastructure, enhance operational efficiency, and assist the country in achieving its full production potential within the oil sector.