Nigeria’s oil industry appears to be finding its rhythm again. For the second month running, the country has met its OPEC production quota, pumping an average of 1.507 million barrels per day (bpd) in July, according to the cartel’s latest Monthly Oil Market Report.
The steady performance, a marginal rise from June’s 1.505m bpd marked a turnaround from earlier in the year, when production swung between 1.40m and 1.48m bpd amid operational setbacks and security challenges.
Energy analysts say the recovery reflects a mix of policy and operational fixes: reactivation of dormant fields, quicker regulatory approvals, and tighter oversight of upstream operators.
“Nigeria is finally stringing together the kind of consistency that gives investors and partners confidence,” one Lagos-based oil market consultant observed.
For Abuja, the numbers are more than a technical milestone. Crude remains the backbone of the economy, providing over 60 percent of foreign exchange earnings.
Sustaining output at OPEC’s threshold is expected to ease pressure on external reserves and reduce the government’s dependence on borrowing to fund the ₦54 trillion 2025 national budget.
Group CEO of NNPC Limited, Bashir Bayo Ojulari, said the performance strengthens Nigeria’s case to lobby OPEC for a higher quota.
“The stability of the past two months signals a new phase for our oil sector, and it positions us to argue for more room to produce and earn,” he said.
With oil still shaping the nation’s fiscal future, industry watchers are now asking whether Nigeria can not only sustain, but build on this momentum in the months ahead.