A report by the organization of the petroleum exporting countries has said that Nigeria’s crude oil production increased to 1.418mbpd in December 2023 from 1.319mbpd in November 2023. OPEC, in its monthly oil market report for January 2024, stated that the country’s oil production in December stood at 1.335mpbd, as against 1.250mbpd in November. opec+, which explained that the data used for the computation were based on information from secondary sources, added that based on the January 2024 momr, Nigeria remains the highest African oil-producing and exporting nation while Equatorial Guinea came last with only 55,000 bpd.with this increase, the country continues to recover from a heavily disrupted crude sector plagued by oil theft and pipeline vandalism.

stakeholders noted that with the steady increase in oil production output in the country, the federal government’s renewed fight against the major factors responsible for nigeria’s consistent failure to meet her production output quota given by OPEC, such as vandalism, oil theft, and other malfeasance in the oil and gas sector is yielding positive dividends.