Nigeria’s Oil Output Hits 2025 Peak As Dangote Refinery Slashes Petrol Price

Nigeria's oil production has reached its highest level since 2025, according to the Organization of the Petroleum Exporting Countries (OPEC) August 2025 Monthly Oil Market Report. The report revealed that output increased to 2.4 million barrels per day (bpd) in July 2025 from 2.3 million bpd in July 2024.

Despite this improvement, Nigeria's current production level still falls below the 2025 budget benchmark of 2.5 million bpd. In the midst of this, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) by N5 per litre, effective August 12, 2025.

The company's Group Chief Branding and Communications Officer stated that this price cut reflects their commitment to national development and consumer satisfaction. Additionally, the refinery will begin distributing Compressed Natural Gas (CNG) as a truck fuel across Nigeria starting August 15, 2025.