Oil production figures in Nigeria experienced a significant decline in April, dropping to an average of 999,000 barrels per day (bpd), according to the April Monthly Oil Market Report (MOMR) released by the Organization of Petroleum Exporting Countries (OPEC).
This decline resulted in Angola surpassing Nigeria as Africa’s leading oil producer with a production level of 1.063 million bpd for the month.
The data, obtained through direct communication with member countries, revealed that Angola’s oil production at 1.063mbpd, exceeded Nigeria’s figure, which stood at 999,000 bpd in April, the same level as Algeria’s oil production.
Compared to Nigeria’s production figure of 1.268 million bpd in March, the country experienced a significant drop of 270,000 bpd, as reported by OPEC.
Confirming this downward trend, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also released data supporting the decrease in oil production for April.
The total liquid production for the month was 1.245 million bpd, with actual crude oil production standing at 998,602 bpd. Blended condensate accounted for 66,317 bpd, while unblended condensate was recorded at 180,110 bpd.
In the first four months of this year, Nigeria’s highest crude oil production was recorded in February, reaching 1.306 million bpd.
The figure declined to 1.258 million bpd in January, rose to 1.268 million bpd in March, and dropped significantly to 998,602 bpd in April, according to the NUPRC.
When considering the entire liquid production, February recorded the highest production at 1.547 million bpd, rising from 1.494 million bpd in January.
However, it slightly declined to 1.517 million bpd in March and further dropped to 1.245 million bpd in April.
Addressing the challenges faced in Nigeria’s oil-producing communities, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, stated that factors such as insecurity, energy theft, and low investment have hindered the production of approximately one million barrels of crude oil daily.
He emphasized that Nigeria currently produces 1.5 million bpd of oil.
The drop in Nigeria’s oil production and Angola’s rise as Africa’s top oil producer underscores the need for the Nigerian government and industry stakeholders to address the challenges impeding growth in the sector.