Oil & Gas

Nigeria’s crude oil production climbed to a 15-month high in May, highlighting the country’s ongoing efforts to increase output. According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), crude production reached 1.53 million barrels per day (bpd), the highest level recorded since January 2025. This achievement enabled Africa’s largest oil producer to meet and slightly exceed its OPEC+ production target after years of underperformance caused by oil theft, sabotage, and pipeline disruptions.

The May production figure represented 102% of Nigeria’s OPEC+ quota of 1.5 million bpd. When condensate production of 170,446 bpd is included, the country’s total oil output rose to approximately 1.7 million bpd, marking an 11-month high. The last time Nigeria sustained production above this level was in July 2025.

Nigeria’s oil sector has demonstrated consistent growth throughout 2026. Total crude and condensate output increased from 1.48 million bpd in February to 1.7 million bpd in May. This improvement follows government efforts to combat crude oil theft and strengthen security in the Niger Delta, a region that has historically experienced frequent disruptions affecting oil exports.

Amid ongoing global supply concerns linked to the conflict involving Iran, Nigeria is seeking to further expand production and capitalize on emerging market opportunities. Authorities are targeting an immediate increase of 100,000 bpd, while the Nigerian National Petroleum Company (NNPC) plans to raise overall oil production to 2 million bpd within the next two years, according to comments made by Executive Vice President for Upstream Udy Ntia in November 2025.