Nigeria’s crude oil output has achieved a notable milestone, with the nation recording an average daily production of 1. 53 million barrels per day (bpd) in January 2025, as reported by the Organisation of Petroleum Exporting Countries (OPEC).

For the inaugural instance since the production quota was established at 1. 5 million bpd in November 2023, Nigeria has successfully attained the target, signifying a pivotal moment for Africa’s foremost oil producer.

OPEC’s recent Monthly Oil Market Report, released on Wednesday, indicated that Nigeria’s January output signifies a 54,000 bpd (3. 6%) increase from 1. 48 million bpd in December 2024. With this increase, Nigeria has maintained its role as Africa’s leading oil producer, surpassing Algeria, which reported 907,000 bpd.

Conversely, Congo produced 251,000 bpd, securing its position as the continent’s third-largest producer.

However, data from secondary sources present a somewhat different narrative. According to independent energy intelligence platforms, Nigeria’s crude production actually saw a decrease of 2% in January, declining from 1. 52 million bpd in December to 1. 49 million bpd.

The report also offered perspectives on OPEC’s broader crude production trends. Overall, OPEC-12 crude production averaged 40. 62 million bpd in January, reflecting a month-on-month reduction of 118,000 bpd.

While oil production experienced an uptick in Libya, Congo, and Gabon, it significantly declined in Nigeria, the UAE, and Venezuela.

Outside the cartel, non-OPEC crude production registered at 13. 94 million bpd, with Kazakhstan witnessing an increase while Russia’s production diminished.

OPEC expressed optimism regarding Nigeria’s oil sector, highlighting the Dangote Refinery as a potential transformative factor for the industry.

“The oil sector remains fundamental to the economy, and the Dangote Refinery achieving full production capacity should assist in stabilizing the petroleum product supply and potentially reduce petrol prices,” the report stated.

On February 10, Edwin Devakumar, Vice-President of Dangote Industries Limited, informed Reuters that the refinery could reach full capacity within 30 days. Once fully operational, the facility is anticipated to process 650,000 barrels of crude per day, surpassing local demand for petroleum products.

The federal government, spearheaded by Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has established an ambitious objective to elevate crude oil production to three million bpd by 2025.