By Okafor Joseph Afam
January 15, 2025

A review of data published by the Organization of Petroleum Exporting Countries (OPEC) revealed that Nigeria’s crude oil production fell to 1.485 million barrels per day (bpd) in December 2024, based on direct communication data reported by OPEC members. This marked a slight decline from the 1.486 million bpd recorded in November 2024.

Interestingly, secondary source data cited by OPEC presented a contrasting figure, showing an increase in Nigeria’s oil production to 1.507 million bpd in December 2024, up from 1.477 million bpd in November 2024. This production level placed Nigeria ahead of Libya, which recorded 1.290 million bpd, but still behind Iraq’s 3.6 million bpd, as well as other major producers like the United Arab Emirates (2.9 million bpd) and Kuwait (2.4 million bpd).

Locally, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a higher figure of 1.667 million bpd for December 2024, including blended and unblended condensates. This represented a slight drop from 1.690 million bpd in November 2024. However, when condensates were excluded, NUPRC’s figure aligned closely with OPEC’s data, standing at 1.484 million bpd in December.

The variation in data reporting between Nigeria and OPEC has raised concerns. While OPEC data excludes condensates in its reports, the Nigerian government includes them in local figures. This dual reporting approach has led to inconsistencies, causing confusion among stakeholders.

For instance, in October 2024, the Nigerian government reported a production figure of 1.8 million bpd, including condensates, while OPEC recorded a significantly lower figure of 1.434 million bpd.

These discrepancies continue to draw scrutiny as Nigeria strives to balance transparency with its international and local commitments in the energy sector. The need for consistent and accurate reporting remains critical to the country’s oil industry and its reputation within the global oil market.

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