Production gains lift Nigeria above OPEC quota again

Nigeria’s crude oil production increased to 1.53 million barrels per day (bpd) in May 2026, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).

The figure is higher than the 1.489 million bpd recorded in April, representing an increase of 41,000 barrels per day, or about 2.8 percent.

The rise marks the first time Nigeria has produced above its OPEC quota since mid-2025, boosting hopes for increased government revenue and foreign exchange earnings. The development also strengthens Nigeria’s position as Africa’s largest oil producer.

According to OPEC, Nigeria’s improved performance came at a time when overall oil production among members of the Declaration of Cooperation (DoC) declined. Total DoC production averaged 33.13 million bpd in May, down by 190,000 bpd from the previous month.

Reasons for the Improvement

Nigeria has struggled for years to meet its OPEC production target due to challenges such as crude oil theft, pipeline vandalism, underinvestment, and operational disruptions.

However, recent efforts by the Federal Government to improve pipeline security and attract investment into the oil sector appear to be yielding results.

The last time Nigeria exceeded its OPEC quota was in July 2025, when production reached 1.507 million bpd. In June 2025, the country produced 1.505 million bpd.

Nigeria Remains Africa’s Top Producer

OPEC data shows Nigeria continues to produce more crude oil than several other African oil-producing nations. In May 2026:

Libya produced 1.30 million bpd

Algeria produced 982,000 bpd

Congo produced 283,000 bpd

Gabon produced 210,000 bpd

Economic Impact

The increase in crude oil output is expected to support Nigeria’s economy by boosting government revenue, foreign exchange earnings, and external reserves.

Although the Federal Government has set a long-term oil production target of 2.6 million bpd for 2026, it adopted a more conservative benchmark of 1.8 million bpd for budget planning.

Earlier this year, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported that crude oil production rose to 1.84 million bpd in March 2026, while domestic crude oil supply to local refineries remained below target during the first quarter of the year.

The latest OPEC figures suggest Nigeria’s oil sector is gradually recovering, although sustaining the growth will depend on continued improvements in security, investment, and infrastructure.