• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, July 27, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria Meets OPEC Crude Quota With 1.53mbpd Output In January

by Nse Anthony - Uko
5 months ago
in Business
OPEC
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria has achieved a significant milestone by meeting its Organisation of Petroleum Exporting Countries (OPEC), crude oil production quota for January 2025, recording an output of 1.53 million barrels per day (bpd).

Advertisement

The country for the first time, met the OPEC production quota of 1.5 million bpd since it was set for the 2024 period at OPEC’s ministerial meeting in November 2023.

The increase in production is seen as a positive development for Nigeria’s economy, which heavily relies on oil revenues. The rise to 1.53 million bpd reflects a concerted effort by Nigerian authorities to stabilise and enhance oil output, following previous challenges that had led to lower production levels.

This achievement comes amidst a backdrop of fluctuating oil prices and production cuts agreed upon by OPEC+ members, aimed at balancing the global oil market. The successful compliance with the quota is expected to bolster Nigeria’s economic position and contribute positively to its foreign exchange earnings.

The production figure which was released in OPEC monthly oil market report showed that the increase was against 1.485 million bpd recorded in Dec. 2024, which represented 54,000 bpd change.
In December 2024, the quota was extended to 2026 as Nigeria produced below the quota for over a year.
According to OPEC, the crude oil production data was obtained from two sources – direct communication with Nigerian officials which is from member countries and secondary communication, such as energy intelligence platforms.

RELATED

ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential

ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential

4 hours ago
Caverton Marine Shares Innovative Options For Safety At Interferry Conference

Caverton Champions Sustainable Marine Mobility With Award-winning Research

4 hours ago

The report showed that Nigeria retained its position as the largest oil producer in Africa, surpassing Algeria, which produced 907,000 bpd in January.

The report showed that Congo produced 251,000 bpd in the period under review, making the country the third-largest oil producer in Africa.

According to secondary sources, total OPEC-12 crude oil production, total DoC crude oil production averaged 40.62 mb/d in January 2025, which is 118 tb/d lower, m-o-m.

“Crude oil output increased mainly in Libya, Congo, and Gabon, while production in Nigeria, UAE, and Venezuela decreased significantly.

“Also, total non-OPEC DoC crude oil production averaged 13.94 mb/d in January 2025, three tb/d higher, m-o-m.

“Crude oil output increased mainly in Kazakhstan, while production in Russia decreased,” the report stated.

The OPEC report further stated that Nigeria’s oil production would likely increase with Dangote refinery nearing full capacity.

“The oil sector remains central to the economy, and the Dangote Refinery reaching full production capacity should help stabilise the petroleum product supply and possibly lower petrol prices,” OPEC stated.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: Organisation of Petroleum Exporting Countries (OPEC)
SendShareTweetShare
Previous Post

Sokoto Govt Pays Outstanding Foreign Students’ Fees

Next Post

Despite 3.7% Growth Forecast Africa Faces External Risks Challenge – AfreximBank

Nse Anthony - Uko

Nse Anthony - Uko

You May Like

ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential
Business

ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential

2025/07/27
Caverton Marine Shares Innovative Options For Safety At Interferry Conference
Business

Caverton Champions Sustainable Marine Mobility With Award-winning Research

2025/07/27
CORBON Inducts 420 Registered Builders, Announces Competition
Business

CORBON To Register, Train Additional Cadres Of Building Artisans

2025/07/27
Nigerians In Diaspora Invest $90bn In Economy – Commission
Business

FirstBank, NiDCOM’s New Platform Targets Safer Homeownership For Nigerians Overseas

2025/07/27
Nigeria Targets 2.7m MT Cereal Production Growth By By 2034
Agriculture

Nigeria Targets 2.7m MT Cereal Production Growth By By 2034

2025/07/27
BAT Nigeria Calls For Export Reforms To Boost Economic Growth
Business

BAT Nigeria Calls For Export Reforms To Boost Economic Growth

2025/07/27
Leadership Conference advertisement

LATEST

Nigeria Mourns, Daura In Sorrow, Dikko In Pensive Mood

“Wet the Grass”: Tinubu’s Warning and APC’s Big Grassroots Test

NGO Announces Launch Of Empower Her Ability To Support Women With Disabilities In Business

ASIS 4.0: Stakeholders Pledge Collaboration To Unlock Africa’s Potential

Caverton Champions Sustainable Marine Mobility With Award-winning Research

Dangiwa Assures Contractors Of Payments

CORBON To Register, Train Additional Cadres Of Building Artisans

FirstBank, NiDCOM’s New Platform Targets Safer Homeownership For Nigerians Overseas

Nigeria Targets 2.7m MT Cereal Production Growth By By 2034

BAT Nigeria Calls For Export Reforms To Boost Economic Growth

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.