June 11 (THEWILL) — Nigeria has recorded a significant milestone in its oil industry recovery efforts, with crude oil production rising to 1.53 million barrels per day (mbpd) in May 2026, surpassing the country’s production quota allocated by the Organisation of the Petroleum Exporting Countries (OPEC).
The latest production data, contained in OPEC’s June 2026 Monthly Oil Market Report, showed that Africa’s largest oil producer exceeded its OPEC quota of 1.5 mbpd by approximately 30,000 barrels per day, marking a notable turnaround after months of underperformance.
According to the OPEC report, Nigeria’s crude output rose steadily from 1.383 mbpd in March to 1.489 mbpd in April before climbing further to 1.53 mbpd in May. The increase represents the highest production level recorded by the country in nearly a year and signals renewed momentum in the upstream petroleum sector.
The May output figure effectively ends a 10-month stretch of quota shortfalls and marks Nigeria’s first production surplus relative to its OPEC target since July 2025.
The improved performance comes as global oil markets continue to navigate geopolitical uncertainties, fluctuating demand patterns and evolving energy transition policies.
Stakeholders attribute the improvement to intensified security operations in the Niger Delta, enhanced surveillance of critical oil infrastructure, deployment of modern monitoring technologies and increased collaboration between government agencies and oil companies operating in the region.
The rise in production is expected to provide a welcome boost to the country’s finances at a time when the government is seeking to strengthen revenues, reduce fiscal pressures and support economic growth. Higher crude output could also improve Nigeria’s foreign exchange position by increasing export earnings, helping to stabilise the naira and enhance investor confidence in the economy.
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