Nigeria’s crude oil production, including condensates, increased month-on-month to 1.486 million barrels per day (bpd) in April 2025 from 1.401 million bpd in March, according to the Organisation of the Petroleum Exporting Countries (OPEC).
OPEC disclosed the figures in its May 2025 Monthly Oil Market Report (MOMR), based on data gathered through direct communication. However, the report also noted that secondary sources estimated Nigeria’s production slightly lower at 1.471 million bpd for the same period.
As of yesterday, crude prices—including Nigeria’s Bonny Light—hovered around $66 per barrel, falling $9 short of the country’s $75 per barrel benchmark used in the 2025 budget.
The Federal Government’s N54.99 trillion budget for 2025 is predicated on an oil price of $75 per barrel, daily output of 2.06 million bpd, and an exchange rate of N1,500 to the dollar.
The OPEC figures align with the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) May 2025 report, which pegged oil output, including condensates, at 1.683 million bpd in April—a 5 per cent increase from 1.603 million bpd recorded in March.
According to the NUPRC, daily production in April averaged 1,683,307 bpd, consisting of 1,485,700 bpd of crude oil and 197,607 bpd of condensates. The commission noted that average crude production was at 99 per cent of Nigeria’s 1.5 million bpd OPEC quota.
It further indicated that the country’s lowest and peak combined crude and condensate production in April were 1.60 million bpd and 1.73 million bpd, respectively.
In a related development, the NUPRC confirmed that Nigeria has exported the first shipment of its newly introduced Obodo crude blend to the international market.
Commission CEO, Gbenga Komolafe, congratulated Conoil Producing Limited for the milestone, describing it as a significant boost for the nation’s upstream sector and a testament to the expanding capabilities of indigenous oil producers.
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