Nigeria now produces 1.3 million barrels of crude oil per day - OPEC

According to the Organization of the Petroleum Exporting Countries, Nigeria produced 1.307 million barrels of crude oil on average per day, slight rise from July. 

The statistic provided by OPEC contradicts the assertions made by President Bola Tinubu and Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, claiming the nation's oil production had increased to 1.6 million barrels per day. Nigeria added 30 barrels on average per day to boost its oil output from 1.27 million barrels per day in June to 1.30 million barrels per day in July, according to OPEC's Monthly Oil Market Report for August 2024.

Tinubu boasted that oil output rose by more than 300,000 barrels per day last month during his August 4 nationwide broadcast.

The NUPRC's Komolafe revealed on July 26, 2024, that daily oil production in July reached 1.61 million barrels per day. This was disclosed by Komolafe at the two-day public/investigative hearing on oil theft/losses held by the House of Representatives Special Committee.

Nigeria's average daily production is 1.61 million barrels per day as of July 23, 2024, he revealed. Less than two weeks had passed since the commission declared that June's average daily oil production was 1.27 million barrels. But according to OPEC's report, direct contact was the basis for the 1.3 million barrels per day for July, which was provided by Nigeria, an OPEC member nation. 

Crude production fell from 1.28 million barrels per day in April to 1.25 million barrels per day in May, according to OPEC figures, costing Nigeria 30,000 billion dollars per day. As previously reported, OPEC claims that Nigeria's declining daily oil production reversed course in April, increasing slightly from 1.23 million barrels per day in March to 1.28 million barrels per day. After declining recently, the organization, whose data consistently agrees with NUPRC's, reported that Nigeria's oil production increased by 50,000 barrels per day in April. The country produced 1.23 million barrels of crude oil per day in March, down from 1.32 million barrels per day in February. Direct sources state that production fell to 1.322 million metric tons in January from 1.427 million metric tons in January.

Concurrently, the Federal Government declared that it was on track to surpass two million barrels per year.