Nigeria Retains Africa’s Top Oil Producer Spot As Output Rises

Nigeria Retains Africa’s Top Oil Producer Spot As Output Rises
Output remains below OPEC quota for sixth month.
Experts urge reforms to meet ambitious production targets.

Nigeria’s crude oil production rose to 1.459 million barrels per day in January 2026, reinforcing the country’s position as Africa’s largest producer, although output remained below its OPEC quota.

The figures were contained in the latest Monthly Oil Market Report released by the Organization of the Petroleum Exporting Countries, which showed a modest month on month increase in Nigeria’s output.

According to the report, crude production climbed from 1.422 million barrels per day in December 2025 to 1.459 million barrels per day in January 2026, reflecting an increase of about 37,000 barrels per day. The data was compiled through direct communication between OPEC and Nigerian authorities.

Despite the improvement, Nigeria fell short of its 1.5 million barrels per day quota by about 50,000 barrels per day. This marks the sixth consecutive month the country has produced below its assigned allocation.

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EKO HOT BLOG reports that OPEC’s secondary sources, including independent analysts and market trackers, placed Nigeria’s January output slightly higher at 1.47 million barrels per day, highlighting minor variations in measurement methodologies common in OPEC reporting.

With the latest figures, Nigeria maintained its lead ahead of Libya, which recorded 1.37 million barrels per day during the same period.

Industry experts, according to Daily Trust, said the marginal increase provides cautious optimism for government revenue and foreign exchange earnings, given Nigeria’s heavy reliance on oil exports to fund its budget and support the naira.

However, analysts warned that consistent compliance with OPEC production targets would require structural reforms, stronger upstream investment, and improved operational efficiency across the sector. They stressed that closing the production gap remains critical as Nigeria works to stabilise its economy and strengthen fiscal earnings.

Nigeria Retains Africa’s Top Oil Producer Spot As Output Rises

Nigeria has set a target of increasing crude oil production to two million barrels per day in 2026 and 2.5 million barrels per day in 2027. Achieving this goal, analysts noted, will depend on improved security in oil producing regions, sustained investment, and upgraded infrastructure to support upstream operations.