Nigeria Sees 10% Year-Over-Year Increase in Crude Oil Production, Reaching 1.71 Million BPD in July

Nigeria’s crude oil production has shown a notable increase in July, with a 10% year-over-year rise to 1.71 million barrels per day (BPD), according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This increase is a positive development for the country’s economy, which heavily relies on oil exports. The NUPRC attributed the increase to the implementation of various measures aimed at reducing oil theft and increasing production efficiency. The commission also noted that the increase in production is a result of the government’s efforts to improve the business environment and attract more investment in the oil and gas sector. The Nigerian government has been working to increase oil production and reduce dependence on imported fuel. The increase in crude oil production is expected to have a positive impact on the country’s economy, including an increase in revenue and a reduction in the trade deficit. The NUPRC also reported that the country’s oil production has been steadily increasing over the past few months, with an average daily production of 1.68 million BPD in the second quarter of 2025. The commission attributed this increase to the success of the government’s efforts to reduce oil theft and improve production efficiency. The Nigerian government has implemented various measures to reduce oil theft, including the deployment of security personnel to oil-producing areas and the implementation of a pipeline surveillance system. The government has also increased investment in the oil and gas sector, including the construction of new pipelines and the rehabilitation of existing ones. The increase in crude oil production is also expected to have a positive impact on the country’s energy sector, including an increase in the supply of petroleum products and a reduction in the cost of production. The NUPRC noted that the increase in production is a result of the collaboration between the government, oil companies, and other stakeholders in the industry. The commission also reported that the country’s oil reserves have increased, with an estimated 37 billion barrels of proven oil reserves. The increase in oil production is expected to make Nigeria more competitive in the global oil market, with the country aiming to increase its market share. The Nigerian government has set a target of increasing oil production to 2 million BPD by 2026, and the recent increase in production is a step towards achieving this goal. The increase in crude oil production is also expected to have a positive impact on the country’s GDP, with the oil and gas sector contributing significantly to the country’s economy. The NUPRC reported that the oil and gas sector accounted for approximately 10% of the country’s GDP in 2024. The commission also noted that the increase in production is a result of the government’s efforts to diversify the economy and reduce dependence on oil exports. The Nigerian government has been working to increase investment in other sectors, including agriculture and manufacturing, in order to reduce the country’s reliance on oil exports. The increase in crude oil production is a positive development for the country’s economy, and it is expected to have a significant impact on the country’s energy sector and GDP. The NUPRC will continue to monitor the country’s oil production and work with stakeholders to ensure that the increase in production is sustained. The commission will also work to address the challenges facing the oil and gas sector, including oil theft and pipeline vandalism. The Nigerian government is committed to increasing oil production and reducing dependence on imported fuel, and the recent increase in production is a step towards achieving this goal.

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