By Ayo Kehinde
Nigeria has maintained its position as Africa’s largest crude oil producer, with output rising to 1.459 million barrels per day (bpd) in January 2026, according to the latest Monthly Oil Market Report (MOMR) released by the Organisation of Petroleum Exporting Countries (OPEC).
The report, published on Wednesday, showed that Nigeria’s crude oil production increased by 37,000 bpd from the 1.422 million bpd recorded in December 2025, reflecting modest month-on-month growth and signs of gradual recovery in the sector.
Data obtained through direct communication between OPEC and Nigerian authorities indicated that while output improved, it remained below the country’s OPEC production quota of 1.5 million bpd. This places Nigeria about 50,000 bpd short of its assigned ceiling, marking the sixth consecutive month it has fallen below quota.
Despite this shortfall, Nigeria retained its leading position on the continent, ahead of Libya, which ranked second with crude oil production of 1.37 million bpd during the same period.
OPEC also noted that secondary sources estimated Nigeria’s January production slightly higher, at about 1.47 million bpd, further underscoring the upward production trend.
The Federal Government has adopted an oil production benchmark of 2.6 million bpd for 2026 as part of its medium-term economic outlook, while using a more conservative estimate of 1.8 million bpd for budgeting purposes.
OPEC reported that total crude oil production by countries under the Declaration of Cooperation (DoC) averaged 42.45 million bpd in January 2026, based on secondary sources. This represented a month-on-month decline of 439,000 bpd compared to December levels.
According to the report, the reduction in output among DoC countries aligns with OPEC’s broader strategy to stabilise the global oil market through coordinated production adjustments.
While challenges persist in meeting its full OPEC quota, Nigeria’s improved January performance reinforces its dominance in Africa’s oil sector and signals cautious optimism for stronger output levels in the months ahead.
