Nigeria’s oil output rises to 1.559m bpd, highest in 2025

•••Dangote Refinery reduces gantry price of petrol to N820 per litre

By Udeme Akpan, Energy Editor

Nigeria’s oil output, excluding condensate, rose by 11 per cent, year-on-year, YoY  to 1.559 million barrels per day, bpd in July, representing the highest monthly production level in 2025.

Organisation of Petroleum Exporting Countries, OPEC disclosed this yesterday in its August 2025 Monthly Oil Market Report, MOMR.

According to OPEC, the nation’s crude oil output  increased by 11 per cent YoY  to 1.559 million barrels per day, bpd in July 2025 from 1.386 million bpd in the corresponding period of 2024. 

Furthermore,  on a month-on-month, MoM basis, the oil output rose marginally by 1.0 per cent  to 1.559 million bpd, from 1.543 million bpd in June 2025. According to OPEC, the output in July was the highest in 2025, based on data obtained from secondary sources.

However, when data obtained from direct communication were considered, OPEC noted that the nation’s oil output increased to 1.559 million bpd from 1.307 million bpd.

However, the 1.559 mbp is still below the budget 2025 benchmark of  2.06 million bpd, $75 per barrel and N500/$ exchange rate but for the third time in excess of OPEC 1.5million bpd quota this year.

Meanwhile, Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS), also known as petrol to N820 per litre from N850 per litre as competition heightens in the downstream sector.  

The company said it remains committed to serving consumers while stimulating the nation’s sustainable development.

Group Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina, who confirmed this in a statement, said: “Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N30.00, from N850 to N820 per litre, effective from 12th August 2025. 

“As part of our unwavering commitment to national development, Dangote Petroleum Refinery assures the public of a consistent and uninterrupted supply of petroleum products.

“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks for fuel distribution across Nigeria, effective August 15, 2025.” In an interview with Energy Vanguard, the Chief Executive officer, Petroleumprice.ng, Olatide Jeremiah, said: “The market is still witnessing competition among operators. 

The Dangote Petroleum Refinery has been determining the pace. Other operators responded by adjusting their depot prices.

“The market is dynamic and we shall continue to see a lot of changes in the downstream sector as events, especially the volatility of the international oil market.”

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