The Staggering Cost of Nigeria Missing OPEC+ Oil Quotas

The Staggering Cost of Nigeria Missing OPEC+ Oil Quotas

Nigeria’s struggles to pump to its OPEC+ quota over the past year have resulted in a loss of $1.31 billion gross revenue for the biggest African oil producer, according to data calculated by Business Insider Africa.  The cumulative underproduction for Nigeria between January 2025 and January 2026 is estimated at about 18.12 million barrels. Multiplied by the official average price of the country’s flagship Bonny Light crude, $72.08 per barrel, t…

Nigeria Oil Production Shortfall Deepens Fiscal Pressure

Nigeria’s oil-dependent economy is grappling with a growing Nigeria oil production shortfall, as output repeatedly failed to meet the country’s 1.5 million barrels per day quota for much of 2025 and again in January 2026. Figures released by the Nigerian Upstream Petroleum Regulatory Commission show that Africa’s largest oil producer underperformed its quota in nine months of 2025 and extended that streak into the new year. While global oil pric…

Nigeria Misses OPEC Output Target for Months, Forfeits Estimated N1.76tn in Crude Revenue - TV360 Nigeria

Persistent production shortfalls cost the country over 18 million barrels in a year, despite relatively firm oil prices and renewed reform pledges….. Nigeria’s oil sector underperformed its production benchmark for much of the past year, leading to an estimated N1.76 trillion in lost crude revenue between January 2025 and January 2026. An analysis of data from the Nigerian Upstream Petroleum Regulatory Commission shows that Africa’s largest oil …

Nigeria’s oil output drops 6.3% to 1.627m bpd as revenue losses hit N1.76tn

Nigeria’s oil production declined year-on-year and month-on-month in January 2026, falling short of both its 2026 budget benchmark and the quota set by the Organization of the Petroleum Exporting Countries (OPEC), even as crude prices hovered above the Federal Government’s reference price. Data from the Nigerian Upstream Petroleum Regulatory Commission showed that total oil output, […]