Nigeria’s Crude Oil Output Falls By 4.37% In March, Below OPEC's Quota - Politics - Nigeria

Nigeria’s crude oil output decreased by 4.37% in March 2025, dropping to 1.401 million barrels per day, below its OPEC quota of 1.5 million bpd as reported in OPEC’s April Monthly Oil Market Report.
The production shortfall is attributed to issues such as underinvestment, aging infrastructure, and widespread oil theft, limiting the country’s ability to meet its 2025 production target of 2.06 million bpd.
This decline, coupled with falling international oil prices, threatens Nigeria’s fiscal stability as oil revenues are crucial for funding public services and development projects.
Experts emphasize the need for addressing structural challenges, increasing investment, and diversifying the economy into sectors like agriculture, healthcare, and technology to reduce reliance on oil.