According to the most recent Monthly Oil Market Report from OPEC, Nigeria started 2026 with a slight increase in crude oil production, at 1.459 million barrels per day in January.Â
The graph shows an increase of 37,000 barrels per day from the 1.422 million barrels documented in December 2025. Although the performance improved, output was still below Nigeria’s OPEC quota of 1.5 million barrels per day, therefore prolonging the nation’s run of underperformance to six straight months.
While secondary sources estimated somewhat higher production at 1.47 million barrels per day, OPEC data obtained directly from Nigerian authorities set output at 1.459 million barrels per day. With 1.37 million barrels per day over the same span, Libya followed as Africa’s second biggest producer.
The News Chronicle reported that, even as production has gradually recovered, ongoing oil theft, pipeline sabotage, and years of underinvestment in upstream infrastructure continue to limit Nigeria’s ability to fully close the gap to its quota.
Providing the majority of government income and foreign exchange earnings, oil remains a cornerstone of Nigeria’s economic future. Many see steady production growth as essential for bolstering outside reserves and preserving financial stability.
In January, OPEC and its allies’ overall crude output averaged 42.45 million barrels per day, mirroring a broader supply correction aimed at stabilising global oil markets.
