By Muhammad Mamman
Nigeria’s crude oil production declined sharply in February, falling by more than 10 percent to 1.31 million barrels per day (bpd), according to the latest monthly report released by the Organization of the Petroleum Exporting Countries (OPEC).
The oil cartel said Nigeria produced an average of 1.31 million bpd in February, down from 1.45 million bpd recorded in January, marking a 10.69 percent drop in output within a month.
According to the Vienna-based organisation, the figures were obtained through direct communication with Nigerian authorities as part of its routine data collection from member states.
The decline highlights persistent volatility in Nigeria’s oil production, which has fluctuated in recent months amid operational challenges, infrastructure issues and security concerns affecting key production facilities.
Nigeria, Africa’s largest oil producer and a member of OPEC, relies heavily on crude exports for foreign exchange earnings and government revenue. Any sustained decline in output could therefore place additional pressure on the country’s fiscal outlook.
Oil sector analysts say maintaining stable production remains crucial for the government as it seeks to strengthen revenue generation and stabilise the economy.
Despite the drop, Nigeria continues to pursue efforts aimed at improving production levels, including measures to curb oil theft, rehabilitate pipelines and attract new investment into the upstream petroleum sector.
The latest figures underscore the continuing challenges facing the country’s oil industry even as global energy markets remain sensitive to supply shifts among major producers.
