Nigeria Oil Output Surpasses 1.8 Million Barrels Daily in July

Nigeria's crude oil production reached a significant milestone in July 2025, surpassing 1.8 million barrels per day, with an average of 1.78 million barrels daily, marking a rebound from previous fluctuations caused by oil theft, pipeline vandalism, and underinvestment. This increase, driven by enhanced security measures, advanced pipeline monitoring technology, and collaboration with security agencies, aligns with the Nigerian Upstream Petroleum Regulatory Commission's (NUPRC) strategic goal to boost production to 3 million barrels per day by mid-2026. The rise in production is critical for Nigeria's economy, which depends on crude oil for nearly two-thirds of government revenue and over 80% of foreign currency earnings, and it is expected to support the naira by increasing foreign exchange inflows. In addition to oil, Nigeria produced about 1.37 trillion standard cubic feet of gas in the first half of 2025, with a high utilization rate of 91.6%, despite some challenges with gas flaring and shrinkage. The production improvements reflect Nigeria's ongoing efforts to stabilize its energy sector, enhance transparency, and foster sustainable growth through partnerships with international and local stakeholders. These developments are vital for improving the country's fiscal stability and investor confidence amid broader economic pressures.