ABUJA – Despite a slight decrease in production during March, Nigeria has maintained its position as Africa’s leading crude oil producer, according to the latest report from the Organisation of the Petroleum Exporting Countries (OPEC).
The OPEC monthly report, released Monday, revealed that Nigeria’s oil output fell to 1.40 million barrels per day (bpd) in March, down from 1.46 million bpd in February.
However, this figure still placed Nigeria ahead of Algeria (909,000 bpd) and Congo (263,000 bpd), solidifying its position as the continent’s top oil producer.
It is worth noting that while OPEC’s direct communication reported 1.40 million bpd, secondary sources cited in the report indicated a production of 1.51 million bpd for March, compared to 1.54 million bpd in February.
“Total DoC crude oil production averaged 41.02 mb/d in March 2025, which is 37 tb/d lower, m-o-m,” OPEC stated.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) corroborated the 1.40 million bpd figure on April 12, stating that the March output was 1,400,783 bpd. Despite the decline, the NUPRC highlighted that the average crude oil production represents 93 percent of Nigeria’s 1.5 million bpd OPEC quota.
This news comes shortly after OPEC and its allies agreed to increase oil production by 411,000 bpd in May, a move made amidst concerns over declining oil prices, which could potentially impact the implementation of Nigeria’s 2025 budget.
