BUSINESS POST
Nigeria’s average daily crude oil production declined by 64,000 barrels per day or 4.4 per cent to 1.401 million barrels per day in April 2025 from 1.465 million barrels per day recorded in the preceding month (March).
The Organization of Petroleum Exporting Countries (OPEC) April Monthly Oil Market Report revealed this, saying the numbers are based on direct communication from the producing countries.
The report also indicated that oil production fell by 6.6 per cent below OPEC’s 1.5 million barrels per day quota, and approximately 32 per cent belief of the country’s 2025 budget target of 2.06 million barrels per day.
Nigeria’s persistent shortfalls in meeting government production targets comes from challenges such as underinvestment and rampant oil theft, all contributing to suppressed output.