OPEC report shows Nigeria remains Africa’s top producer but falls nearly 190,000 barrels short of its production target…..
Nigeria’s crude oil production declined sharply in February, dropping to 1.31 million barrels per day (bpd), according to the latest monthly oil market report released by the Organization of the Petroleum Exporting Countries.
The figure represents a 10.69 percent decrease compared with the 1.45 million bpd recorded in January, highlighting continued challenges in the country’s oil sector.
According to the oil alliance, the data was obtained through direct communication with Nigerian authorities, one of the two primary sources it uses to track output among member countries. The organisation also compiles production estimates using secondary sources such as independent energy intelligence platforms.
The latest data shows Nigeria fell short of its 1.5 million bpd production quota, missing the target by roughly 190,000 barrels per day.
Despite the decline, Nigeria maintained its position as Africa’s largest oil producer, outperforming Libya, which recorded an output of 1.28 million bpd during the same period.
Meanwhile, estimates based on secondary sources present a slightly different picture. According to those figures, Nigeria’s production stood at 1.46 million bpd in February, representing a modest 0.68 percent drop from 1.47 million bpd recorded in January.
The report also indicated that the combined crude oil output of the broader OPEC+ alliance known as the Declaration of Cooperation (DoC) group averaged 42.72 million barrels per day in February 2026.
That figure marked an increase of 445,000 barrels per day compared with the previous month.
Earlier in March, members of the alliance including OPEC and its partners agreed to increase production by 206,000 barrels per day starting in April, a move aimed at stabilising global supply amid rising geopolitical tensions.
The decision comes as international oil markets react to escalating hostilities in the Middle East involving the United States, Israel, and Iran.
The conflict has disrupted energy markets and pushed crude oil prices above $100 per barrel on March 9, the highest level recorded since July 2022. Prices later eased slightly to around $87 per barrel the following day.
For Nigeria, however, the drop in production means the country may not fully capitalise on the surge in global oil prices.
Lower output levels could limit government revenues from crude exports, even as rising global prices present an opportunity for higher earnings.
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