Nigeria's crude oil output hits 74-month high, beats OPEC quota for fourth straight month
By Aboki Forex —
Nigeria's crude oil production has climbed to its highest level in more than six years, with the country exceeding its OPEC production quota for the fourth consecutive month. Latest figures from the Nigerian Upstream Petroleum Regulatory Commission show average crude oil production rose to 1.56 million barrels per day in June 2026, while condensate output stood at 0.18 million barrels per day, bringing total production to 1,735,398 barrels per day.
This represents 104 percent of Nigeria's 1.5 million barrels per day OPEC quota and marks the highest crude oil output since April 2020, a 74-month high.
Steady production growth since February
The figures, contained in the commission's latest production report and conveyed in a statement by its Head of Media and Corporate Communications, Eniola Akinkuotu, showed that June marked the fourth consecutive month of production growth. Combined production stood at 1.483 million barrels per day in February before rising steadily to 1.564 million barrels per day in March, 1.663 million barrels per day in April, 1.701 million barrels per day in May, and 1.735 million barrels per day in June.
Total crude oil and condensate production increased from 1.700 million barrels per day in May to 1.735 million barrels per day in June, a 2.2 percent month-on-month increase.
Stable operations and no major pipeline outages
The NUPRC attributed the improved performance to stable production activities across major oil-producing assets and the absence of significant pipeline outages during the review period. The commission stated: “The improved performance was primarily driven by stable production operations across most producing assets and the absence of any major pipeline outages during the period under review. This enhanced operational stability supported improved production uptime and crude evacuation efficiency.”
The commission added that although a limited number of assets experienced short-duration operational shutdowns, the overall impact on national production was minimal. Scheduled turnaround maintenance activities were effectively managed and completed without significant disruption to production operations.
Nigeria's highest daily combined crude oil and condensate production during the month reached 1.89 million barrels per day, while the lowest daily production stood at 1.57 million barrels per day.
Bonny and Forcados lead terminal production
An analysis by export terminals showed that Bonny Terminal retained its position as Nigeria's highest-producing terminal, recording an average daily production of 318,280 barrels, compared with 293,880 barrels in May. Forcados Terminal ranked second with 306,360 barrels per day, up from 289,900 barrels. Qua Iboe Terminal declined to 164,730 barrels per day from 173,360 barrels in May. Escravos Terminal recorded a slight increase to 138,030 barrels per day, compared with 135,470 barrels. Bonga Terminal maintained steady output at 103,660 barrels per day, slightly above the 102,540 barrels recorded in May.
The peak production level underscores Nigeria's growing potential to achieve the Federal Government's medium-term ambition of producing two million barrels of oil per day, a target that has remained elusive due to insecurity in oil-producing communities, crude theft and ageing infrastructure.
What this means for the naira and the economy
The sustained production growth is expected to strengthen Nigeria's oil export earnings, improve foreign exchange inflows and provide additional fiscal revenues for the Federal Government. Nigeria has struggled in recent years to meet its OPEC allocation because of widespread crude theft, pipeline vandalism, underinvestment, and operational challenges. Reforms under the Petroleum Industry Act, enhanced security around critical oil infrastructure, and closer collaboration between government agencies and oil producers have contributed to the gradual recovery in production. Maintaining output above the OPEC quota and sustaining operational stability will be critical if Nigeria is to realise its target of two million barrels per day and maximise the benefits of favourable global oil market conditions.