Nigeria’s crude oil production climbed to 1.459 million barrels per day (bpd) in January 2026, according to OPEC’s latest Monthly Oil Market Report (MOMR) released on Wednesday — a modest but meaningful recovery that underscores the country’s gradual progress in lifting output while highlighting the persistent structural challenges holding it back from its allocated ceiling.
The January figure represents a recovery of 37,000 bpd from December 2025’s output of 1.422 million bpd. Nevertheless, Nigeria still fell approximately 50,000 bpd short of its 1.5 million bpd OPEC quota — marking the sixth consecutive month it has produced below its allocation. OPEC’s secondary sources, which draw on independent analysts and market trackers, placed output slightly higher at 1.47 million bpd, reflecting minor methodological differences common in such reporting.
Despite the shortfall, Nigeria maintained its position as Africa’s largest crude producer, ahead of Libya, which recorded 1.37 million bpd during the same period. With oil exports central to government revenue and foreign exchange earnings, analysts say closing the production gap will require deeper upstream reforms, increased investment, and stronger operational discipline. Nigeria has set an ambitious target of reaching 2 million bpd this year, with a further climb to 2.5 million bpd targeted for 2027.
SOURCE: dailytrust.com