Nigeria’s crude oil production rose marginally in October to 1.4 million barrels per day, according to the latest report from OPEC, but still fell short of its 1.5 million bpd quota. The figure represents a 0.72 percent increase from September’s 1.39 million bpd, marking the third consecutive month Nigeria has missed its assigned target.
OPEC said the figures were based on direct communication with Nigerian authorities, while secondary data placed output slightly higher at 1.506 million bpd. Despite the shortfall, Nigeria retained its position as Africa’s leading producer, ahead of Libya.
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The Nigerian National Petroleum Company says production is expected to reach two million bpd by 2027, while a new oil block licensing round set for December aims to boost future output.
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