Business
Nigeria’s oil output drops to 1.486m bpd in April – OPEC
Nigeria’s crude oil production, including condensates, declined slightly to 1.486 million barrels per day (bpd) in April 2025 from 1.491 million bpd in March, according to the latest Monthly Oil Market Report (MOMR) released by the Organization of Petroleum Exporting Countries (OPEC).
The data, sourced through direct communication with Nigerian authorities, shows a marginal month-on-month decrease. However, when calculated using secondary sources, OPEC puts Nigeria’s April output at 1.471 million bpd.
The drop in production comes amid global oil price fluctuations, with Nigeria’s Bonny Light crude trading at around $66 per barrel—$9 below the country’s 2025 budget benchmark of $75 per barrel. This price dip presents a potential shortfall for Nigeria’s N54.99 trillion budget, which is predicated on a daily output of 2.06 million bpd and an exchange rate of N1,500/$1.
In contrast to OPEC’s figures, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported an increase in oil production. According to the NUPRC’s May 2025 monthly report, Nigeria’s oil and condensate output rose by 5 percent to 1.683 million bpd in April, up from 1.603 million bpd in March.
The NUPRC clarified that the nation’s daily average production for April was 1,683,307 bpd—comprising 1,485,700 bpd of crude oil and 197,607 bpd of condensates. This figure reflects a 99 percent compliance with Nigeria’s OPEC production quota of 1.5 million bpd.
The agency also revealed that peak production for April hit 1.73 million bpd, while the lowest was recorded at 1.60 million bpd.
In a related development, the commission announced the successful export of the first cargo of Nigeria’s newly introduced crude blend, Obodo. The shipment, handled by Conoil Producing Limited, marks a significant milestone for Nigeria’s oil sector.
Congratulating Conoil, NUPRC CEO Gbenga Komolafe described the export as a major achievement, underscoring the expanding role of indigenous operators in Nigeria’s upstream oil industry and their growing contribution to national output and exports.
