Oil Revenue Falls N16.2tn Short of 2025 Target

Nigeria’s oil revenue fell short by N16.2 trillion in the first half of 2025, accounting for only 36.51% of the projected N25.52 trillion.

According to the Budget Office, “Gross oil revenue amounting to N9.32tn was collected in the first half of 2025 as against N25.52tn prorate budget projection for the period”.

The country’s crude oil production averaged 1.68 million barrels per day, below the budget benchmark of 2.12 million barrels per day.

Minister of Finance, Wale Edun, noted that the Federal Government’s total revenue for 2025 is likely to end at N10.7 trillion, far below the projected N40.8 trillion.

The shortfall is attributed to challenges such as crude oil theft, pipeline vandalism, underinvestment, and regulatory uncertainty.

The report added that Nigeria’s oil sector continues to grapple with deep-seated challenges, including “persistent crude oil theft, pipeline vandalism, and inadequate security, which have contributed to production shortfalls and supply disruptions”.