Nigeria's Crude Oil Output Surges to 1.459m bpd in January 2026, Exceeding OPEC Quotas
Nigeria's crude oil production rose to 1.459 million barrels per day in January 2026, as reported by OPEC. This increase, exceeding OPEC quotas, highlights Nigeria's position as Africa's largest oil producer.
Despite facing security and infrastructure challenges, Nigeria has shown a consistent improvement in output levels over recent months. The country has struggled to meet its OPEC production quotas in the past due to various challenges.
Libya ranks second in Africa with a production of 1.37 million barrels per day. The oil sector remains crucial to Nigeria's economy, with crude exports contributing significantly to foreign exchange earnings and government revenue.
The increase in oil production is expected to support Nigeria's fiscal performance, ease external pressures, and aid budget implementation.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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