Nigeria hits OPEC production quota in June, breaks 74-month record
By Aboki Forex —
Nigeria surpassed its OPEC crude oil production target in June 2026, achieving the highest output in more than six years. Fresh data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) shows the country's combined crude oil and condensate production averaged 1,735,398 barrels per day (bpd) in June, marking the fourth consecutive month of production growth.
Output exceeds OPEC quota for first time in years
According to the NUPRC's latest production report, Nigeria produced an average of 1.56 million barrels of crude oil per day in June, while condensate output stood at approximately 180,000 bpd. The crude oil output alone exceeded Nigeria's 1.5 million bpd OPEC production quota, meaning the country achieved about 104 per cent of its assigned target during the month.
In terms of crude oil production alone, excluding condensates, the June average of 1.56 million bpd represents Nigeria's highest monthly output since April 2020, making it the strongest production performance in 74 months. The milestone marks a significant turnaround for Africa's largest oil producer, which has struggled in recent years with pipeline vandalism, crude theft, and production disruptions that repeatedly kept output below OPEC targets.
Stable operations and improved security drive recovery
The NUPRC attributed the gains to more stable operations across major producing assets and the absence of significant pipeline outages during the month. The commission noted that uninterrupted production activities, coupled with enhanced crude evacuation efficiency, helped operators maximise output and minimise production losses.
The NUPRC data also revealed that Nigeria's combined crude oil and condensate production peaked at 1.89 million bpd during June, bringing the country closer to the long-standing target of producing 2 million barrels daily. The lowest production level recorded during the month stood at 1.57 million bpd, highlighting relatively stable production throughout the reporting period.
What this means for the naira and Nigerian businesses
Industry observers say sustaining production above OPEC's quota could strengthen Nigeria's oil revenues, improve foreign exchange earnings, and support broader economic growth if global crude prices remain favourable. With oil production now on a sustained upward trajectory for four consecutive months, stakeholders will be watching closely to see whether Nigeria can maintain the momentum, consistently exceed its OPEC quota, and finally achieve the government's ambition of producing 2 million barrels of oil per day.