₦airaland Forum

Nigeria’s crude oil output, including condensate, Rose month-on-month, MoM, to 1.486 million barrels per day, bpd, in April 2025, from 1.401 million bpd in March 2025.

The Organisation of Petroleum Exporting Countries, OPEC, disclosed this in its May 2025 Monthly Oil Market Report, MOMR, explaining that this was based on data obtained from direct communication.

However, the report noted that when data obtained from secondary sources were considered; Nigeria produced 1.471 million bpd during the period.

Also, crudes prices, including Nigeria’s Bonny Light, yesterday, hovered at $66 per barrel, indicating $9 per barrel below the nation’s $75 per barrel budget 2025 reference price, yesterday.


The Federal Government’s 2025 budget of N54.99 trillion is based on $75 per barrel, 2.06 million bpd output and exchange rate N1, 500/$.

However, the OPEC report coincides with the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, May 2025 monthly report, which put the nation’s oil output, including condensate at 1.683 million bpd in April 2025, indicating an increase of 5 per cent from 1.603 million bpd in March 2025.

The NUPRC, stated: “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 of both Crude oil (1,485,700 bopd) and condensate (197,607 bopd). The average crude oil production was 99% of OPEC quota (1.5 mbpd).”

It also stated that of the 1.683 million bpd output of crude oil and condensate accounted for 1.485 million bpd and 1.976 million bpd, respectively.


Meanwhile, NUPRC said the first cargo of its new Obodo crude blend has been exported to the global market.

In his statement, Gbenga Komolafe, the commission’s chief executive officer (CEO), congratulated Conoil Producing Limited on the successful shipment of the first cargo of the crude blend, which was unveiled in March.

Komolafe said the development represents a major achievement for Nigeria’s upstream sector, highlighting the growing capacity of local operators to play a significant role in the country’s crude oil production and exports.

DeLaRue:
In less than 2 years, this administration has increased crude production from less than 1m barrels to around 1.7m (including condensate) or about 1.5m without condensate.

Oil theft significantly reduced.

$7 billion debt overhang cleared.

IMF debt cleared.

Record revenues for States.

Massive projects everywhere.

FX reserves rose from $3 billion to $24 billion in less than 2 years.

Student loan + N20,000 free money per month for each student.

Local government autonomy coming.


Best government since Nigeria's independence 65 years ago.

If you disagree, please provide the facts that show any other government in Nigeria's history achieved more than the current government within 2 years.

No need for histrionics. Just provide the facts.

Agbegbaorogboye:
No government in Nigeria's history has achieved increases in inflation of over 100% within 2 years
No government in Nigeria's history has made the naira the worst performing in Africa within 2 years
No government in Nigeria's history has halved our GDP within 2 years
No government in our history has thrown 75% of the populace into poverty within 2 years
This government is the worst in the history of mankind!!

okeke6969:
Yet, nothing tangible to show for it. Ibrahim
Traore was surprised to know that Qatar is richer than Nigeria despite being no 5 in oil producing countries.
Shame unto all APC apamu supporters..
Unu ga la niyi.

nairalanda1:
It isn't enough to produce the kind of revenue that would meet our needs.

If we wanted to earn enough revenue from that amount of oil, oil prices would have to be at least 103 dollars per barrel, at most 150 dollars per barrel.

That is why apc has failed...they knew the problem, they did not diversify.

Agbegbaorogboye:
No government in Nigeria's history has achieved increases in inflation of over 100% within 2 years
No government in Nigeria's history has made the naira the worst performing in Africa within 2 years
No government in Nigeria's history has halved our GDP within 2 years
No government in our history has thrown 75% of the populace into poverty within 2 years
This government is the worst in the history of mankind!!

Vision101:
You can't devalue and remove subsidies without having all these. The long term benefits outweighs what you just wrote.

malali:
Even if Nigeria hits 3 million bpd, profit remains crippled if production costs stay at $40–$45/barrel due to:
• Militancy
• Corruption
• Pipeline protection costs

Meanwhile, other producers with cheaper, safer operations have higher margins.

Until we fix internal cost structure, more barrels ≠ more wealth.

Vision101:
APC failed. APC didn't diversify? APC has been running the country from military to OBJ to Jonathan? Abi APC of 10 years would have been the one to diversify your economy all this while?
Past leaders gave you petroleum products subsidy and FX subsidy and stole the rest. That's diversification Is it not what you want?

iwaeda:
What long term benefits by these prodigal people. Imagine Wasting thousands of pounds to London to give press statements on Ebilokan.

Vision101:
What long term benefits? Watch out. If you are an economist you would have by now seen a glimpse of it. But take this one clear sign: your governors are paying salaries regularly and executing projects. This wasn't possible before now. The economy has been released from the twin evil that has been holding it jugular.