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Nigeria maintained its position as Africa’s leading crude oil producer in March 2025, according to the latest monthly report by the Organisation of the Petroleum Exporting Countries (OPEC), even though the country experienced a decline in output during the period.
Output falls, but Nigeria leads the continent
OPEC’s March report, released on Monday, revealed that Nigeria’s crude oil production dropped to 1.40 million barrels per day (bpd), down from 1.46 million bpd in February. Despite this decline, Nigeria still outperformed other African producers, including Algeria and Congo.
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In comparison, Algeria recorded an output of 909,000 bpd, while Congo produced 263,000 bpd in the same period. According to OPEC's secondary sources, Nigeria’s March output stood at 1.51 million bpd, slightly down from 1.54 million bpd in February.
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Nigeria’s oil production remained the highest on the continent, based on data obtained through direct communication
Total Declaration of Cooperation (DoC) crude oil production averaged 41.02 million bpd in March 2025, a decrease of 37,000 bpd month-on-month
Oil demand growth revised amid global headwinds
OPEC has slightly lowered its global oil demand growth forecast for the year to 1.3 million bpd, citing updated first-quarter data and the potential economic impact of newly announced tariffs from the United States.
Looking at transportation fuels, global jet/kerosene demand is forecast to grow by about 0.5 million bpd, year-on-year, in the second, third, and fourth quarters of 2025. Similarly, gasoline demand is expected to rise by approximately 0.5 million bpd year-on-year across those same quarters, while diesel is projected to grow by 0.1 million bpd in the second quarter and by 0.2 million bpd in both the third and fourth quarters
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NUPRC confirms drop in Nigerian output
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) also confirmed a decrease in oil production in March, reporting a daily output of 1,400,783 bpd. Nevertheless, the commission noted that this figure represents 93 percent of the 1.5 million bpd quota allocated to Nigeria by OPEC.
Despite the dip, analysts suggest the recent US tariffs are unlikely to significantly affect Nigeria’s oil and gas sector, given existing exemptions and Nigeria's relatively limited trade exposure to the US.