Nigeria’s crude oil production climbed to 1.53 million barrels per day in May 2026, rising 41,000 barrels per day from April and surpassing its OPEC production quota for the first time since mid-2025. The data, sourced from OPEC’s Monthly Oil Market Report, marks meaningful progress for Africa’s largest crude producer, which has battled theft, pipeline vandalism, underinvestment, and operational disruptions for years. The increase came even as overall production among OPEC’s Declaration of Cooperation members declined month-on-month. Nigeria still significantly trails its government’s 2.6 million barrels per day production target for 2026, though the recovery strengthens the country’s foreign exchange earnings outlook and partially eases fiscal pressure amid tight budget conditions.
Nairametrics
