Nigeria’s oil production drops to 1.486m bpd – OPEC
Nigeria’s crude oil production, including condensates, declined month-on-month to 1.486 million barrels per day (bpd) in April 2025, down from 1.601 million bpd recorded in March 2025, according to the Organisation of Petroleum Exporting Countries (OPEC).
OPEC’s latest Monthly Oil Market Report (MOMR) for May 2025, based on direct communication with member countries, revealed the drop. However, when data from secondary sources were considered, Nigeria’s production was slightly lower at 1.471 million bpd during the same period.
In a troubling economic context, oil prices — including Nigeria’s Bonny Light — hovered around $66 per barrel as of yesterday.
This figure is $9 lower than the $75 per barrel benchmark set in Nigeria’s 2025 national budget, potentially deepening fiscal concerns.
The Federal Government’s ₦54.99 trillion 2025 budget is predicated on assumptions of a $75/barrel oil price, 2.06 million bpd production, and a ₦1,500/$ exchange rate.
Interestingly, OPEC’s figures contrast with those from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The commission’s own May 2025 report places April’s oil output, including condensates, at 1.683 million bpd, up 5% from 1.603 million bpd in March.
According to NUPRC: “Lowest and peak combined crude oil and condensate production in April were 1.60 million bopd and 1.73 million bopd respectively.
“The daily average production in April was 1,683,307 barrels per day, comprising crude oil (1,485,700 bopd) and condensate (197,607 bopd). The average crude oil production was 99% of OPEC quota (1.5 mbpd).”
The commission further clarified that within the 1.683 million bpd figure, 1.485 million bpd came from crude oil, while 197,607 bpd was from condensates — not 1.976 million bpd, which appears to be a reporting error in the earlier release.
In a related development, NUPRC announced the export of the first cargo of Nigeria’s new Obodo crude blend to the global market. The Obodo blend was officially unveiled in March 2025.
Gbenga Komolafe, Chief Executive Officer of the commission, commended Conoil Producing Limited for successfully shipping the first consignment of the new blend.
“This marks a significant milestone for Nigeria’s upstream sector, reflecting the growing strength and capability of indigenous oil producers in contributing meaningfully to national crude output and exports,” Komolafe stated.
