AGS NEWS – Nigeria’s daily crude oil production saw a slight increase to 1.307 million barrels per day (mbpd) in July, according to the Organisation of the Petroleum Exporting Countries (OPEC) on Monday.

This figure contrasts with claims by President Bola Tinubu and Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), who stated that production had reached 1.6mbpd.

OPEC’s Monthly Oil Market Report for August 2024 indicated that Nigeria’s oil output rose marginally from 1.27mbpd in June to 1.30mbpd in July, adding just 30 barrels per day on average.

Previously, President Tinubu, in his August 4 national broadcast, claimed that oil production had increased by over 300,000 barrels per day in July, attributing the rise to reforms initiated in May 2024.

ALSO READ: Nigeria’s oil production increases by 25,000 barrels per day

Similarly, Komolafe reported to the House of Representatives that daily oil production hit 1.61mbpd by July 23, 2024.

However, OPEC’s report, based on direct communication with Nigeria, pegged the country’s production at 1.3mbpd in July.

The report also noted that, according to secondary sources, Nigeria’s daily crude production was 1.38mbpd, a slight increase from 1.36mbpd in June.

Despite these discrepancies, the Federal Government remains optimistic about reaching a production target of over two million barrels per day soon.

The Group Chief Executive Officer of NNPC, Mele Kyari, expressed confidence in achieving this goal by the end of the year, emphasizing the need for continued efforts against oil theft and pipeline vandalism.