By Udeme Akpan, Energy Editor
Nigeria’s oil output fell by 5.9 percent year-on-year (YoY) to 1.599 million barrels per day (bpd), including condensate, in November 2025 from 1.698 million bpd in the corresponding period of 2024.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its December 2025 Crude Oil and Condensate Production report.
Also, on a month-on-month (MoM) basis, the nation’s oil output, including condensate, dropped to 1.599 million bpd in November 2025 from 1.698 million bpd in October 2025.
According to the report, “Lowest and Peak Combined crude oil and condensate production in November were 1.54 million bopd and 1.79 million bopd respectively.
“The average crude oil production of November was 96% of OPEC quota (1.5 mbpd). Daily average production in November was 1,599,054 barrels per day, comprising both crude oil (1,436,005 bopd) and condensate (163,049 bopd).”
The report did not provide reasons responsible for the nation’s limited oil output but checks by Vanguard pointed to some factors, especially the oil theft.
Meanwhile, the Central Bank of Nigeria (CBN) has adopted 1.71 million bpd, $55 per barrel and N950/litre as oil output, oil price and petrol price benchmarks for the 2026 budget.
This means that Nigeria would likely not meet its budget projections in terms of oil output, which will likely be worsened by the relatively low oil prices at the global market.
However, reacting in a note to Vanguard, the Chief Executive Officer, Centre for Promotion of Private Enterprises (CPPE), Dr. Muda Yusuf, said: “While encouraging, this projection appears somewhat optimistic in light of expectations of lower global oil prices, projected to remain generally below $60 per barrel in 2026.”
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