Connect with us

latest

Nigeria’s Oil Output Drops 8.3% – Production Hits Low Amid Ongoing Challenges.

Published

on

Nigeria’s Oil Production Drops 8.3% in December 2025, Failing to Meet OPEC and Budget Targets.....KINDLY READ THE FULL STORY HERE▶

Nigeria’s crude oil output, including condensate, fell sharply by 8.3% year-on-year to 1.544 million barrels per day (bpd) in December 2025, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported. This marks a decline from 1.684 million bpd in December 2024, highlighting ongoing challenges in the country’s oil sector.

Although the Commission did not specify reasons for the drop, industry experts pointed to limited investment, declining production capacity, insecurity, and weak investor confidence as key factors.

On a month-to-month basis, production slipped slightly from 1.599 million bpd in November 2025 to 1.544 million bpd in December.

OPEC Quota Shortfall
The data also revealed that Nigeria failed to meet its 1.5 million bpd production quota under the Organisation of Petroleum Exporting Countries (OPEC). Of the total output, 122,385 bpd were condensate, which OPEC does not count toward its quota, leaving actual crude oil production at 1.422 million bpd, below the agreed level.

President Tinubu Signs the Investments and Securities Act (ISA) 2024 into Law

Missed Federal Budget Benchmark
Nigeria’s oil output also fell short of the 2025 budget benchmark of 2.06 million bpd, which was set at an oil price of $75 per barrel and an exchange rate of roughly ₦1,500 to the dollar. NUPRC stated:

“Lowest and peak combined crude oil and condensate were 1.52 million bopd and 1.82 million bopd, respectively. The average crude oil production represents 95% of OPEC quota (1.5 mbpd). Daily average production was 1,544,345 bpd, comprising crude oil (1,421,960 bopd) and condensate (122,385 bpd).”

OPEC’s January 2026 Monthly Oil Market Report confirmed the decline, noting a slight month-on-month drop from 1.436 million bpd in November 2025 to 1.422 million bpd in December 2025, representing a 0.9% decrease. On a year-on-year basis, production decreased from 1.485 million bpd in December 2024.

Revamp Nigeria’s Education System to Prevent Japa Syndrome, Urges University Don

Insecurity and Policy Gaps Behind Decline
Professor Emeritus of Petroleum Economics, Wumi Iledare, attributed the slump to structural and governance challenges in Nigeria’s oil sector. Speaking to Vanguard, he said:

“The reasons are familiar: insecurity, a mature basin with no major new discoveries, and the failure to offer fresh hydrocarbon blocks for bidding. Governance gaps and policy uncertainty continue to weaken investor confidence.”

Iledare also criticised the selective implementation of the Petroleum Industry Act (PIA), stressing the need for a designated leader with institutional authority to drive the sector.

“Too many proxy drivers will not work. I cannot recall the last time Nigeria met its OPEC quota,” he added.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Advertisement

latest

Tension In UK As Nigerians Push For INEC Chairman’s Removal Ahead Of 2027.

Published

on

A group of Nigerians has staged a protest at the United Kingdom Parliament, calling for the removal of the Chairman of the Independent National Electoral Commission (INEC) ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

The demonstrators reportedly gathered outside the parliamentary complex, expressing dissatisfaction with the leadership of the electoral body in Nigeria and demanding immediate action.

“I’ve Never Touched Church Money” — Pastor Enenche Breaks Silence On Funds Allegations.

They insisted that the INEC chairman should be removed, alleging concerns over credibility and trust in the electoral process as the country prepares for the next election cycle.

Victor Osimhen Surpasses Didier Drogba In Champions League Scoring Chart.

The protest drew attention from passersby and security personnel, as the group maintained their position that electoral reforms and leadership changes were necessary to restore public confidence.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

“My Nightclubs Are The Least Of What I Do” — Sir Uyi Fires Back At Critics.

Published

on

Sir Uyi has responded strongly to critics of his involvement in nightclub businesses, insisting that such ventures represent only a small part of his wider activities.....KINDLY READ THE FULL STORY HERE▶

In a firm reaction to recent criticism linked to Vaniti, he stated that people are focusing too much on his nightlife businesses while ignoring other aspects of his work and achievements.

Victor Osimhen Surpasses Didier Drogba In Champions League Scoring Chart.

He stressed that his nightclub operations do not define his entire identity or professional portfolio, adding that he is involved in several other ventures beyond entertainment and hospitality.

According to him, the criticism reflects a narrow perception of what he does, and he believes his broader contributions are being overlooked.

“I’ve Never Touched Church Money” — Pastor Enenche Breaks Silence On Funds Allegations.

Sir Uyi maintained that he remains focused on his various commitments despite public scrutiny surrounding his nightlife business interests.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

latest

Shock In Benue As Police Nab Seven Over Abduction Of JAMB Candidates.

Published

on

The Benue State Police Command has confirmed the arrest of seven suspected militia herdsmen in connection with the abduction of passengers travelling in an 18-seater Benue Links bus along the Makurdi–Otukpo road last Wednesday.....KINDLY READ THE FULL STORY HERE▶

The victims, which included candidates of the Joint Admissions and Matriculation Board (JAMB) heading to Otukpo for their examinations, have all been successfully rescued.

Speaking while briefing Governor Hyacinth Alia in Makurdi during the presentation of the freed victims, the Commissioner of Police, Ifeanyi Emenari, said the rescue operation was achieved through coordinated efforts of multiple security agencies.

He explained that five of the abducted passengers were first released, while the remaining 13 were rescued on Sunday morning without injuries.

Black Axe Crackdown: Massive Charges Filed Against Alleged Kingpins of Global Crime Ring

According to him, the combined pressure from security forces, supported by the state government and the Inspector-General of Police, led to the successful outcome of the operation.

Emenari further disclosed that eight suspects are currently in custody, adding that seven of them are strongly linked to the kidnapping incident, with some victims already identifying them.

He also noted that clearance operations have begun across forest areas in the state to flush out criminal groups, in line with directives from security authorities.

Governor Hyacinth Alia, while receiving the rescued passengers, expressed concern over rising cases of kidnapping in the state but welcomed the safe return of all 18 victims.

Victor Osimhen Surpasses Didier Drogba In Champions League Scoring Chart.

He confirmed that among those rescued were eight candidates on their way to write examinations, and called on the Joint Admissions and Matriculation Board (JAMB) to reschedule the affected exams for them.

The governor assured that the state government remains committed to supporting the victims and strengthening security across Benue State, while also urging residents to provide credible information to security agencies.

He further directed the state health authorities to conduct medical evaluations for all rescued persons and promised government support for those affected.

Stay connected via Google News
Follow us for the latest travel updates and guides.
Add as preferred source on Google
Continue Reading

Trending

Copyright © 2023 NIVONEWS

×