NIGERIA’S OIL OUTPUT HITS 74-MONTH HIGH, BEATS OPEC QUOTA

Nigeria’s crude oil production has reached a 74-month high, surpassing its OPEC quota for the first time in several years, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The NUPRC reported on Friday that average daily production in June 2026 stood at 1.52 million barrels per day, the highest level since April 2020. The increase was attributed to improved security in the Niger Delta, better pipeline infrastructure, and the successful resolution of some long-standing disputes with oil companies.

NUPRC Chief Executive, Engr. Gbenga Komolafe, described the development as a major achievement for the industry. “This milestone reflects the effectiveness of the government’s strategies to boost production and restore investor confidence. We are committed to sustaining this momentum,” Komolafe stated.

The surge in output has helped Nigeria exceed its OPEC production quota, providing a significant boost to government revenue at a time when the country is seeking to strengthen its fiscal position. Industry analysts believe the higher production levels will also improve Nigeria’s standing within OPEC and enhance its influence in global energy markets.

The positive development comes amid ongoing efforts to rehabilitate aging infrastructure and combat oil theft and pipeline vandalism. The government has intensified security operations in the Niger Delta and engaged with local communities to ensure the protection of oil facilities.

Stakeholders have welcomed the news, with the Nigerian National Petroleum Company Limited (NNPC) expressing optimism about further increases in the coming months. The company said additional fields are expected to come on stream as investment flows into the upstream sector.

As Nigeria continues to navigate its economic challenges, the rise in oil production is seen as a timely boost that could help stabilise the economy and support the government’s revenue diversification efforts. Analysts, however, cautioned that sustained high production will require continuous investment in security and infrastructure.